It is an app that facilitates direct money transfer (DMT). Remit is an INSTANT money transfer service to any bank in India. The money can be transferred to any bank account 24x7 using IMPS service. Customers (senders), who may or may not have a bank account of their own can walk-in to any nearby store that uses Remit app and transfer money instantly to the receiver (beneficiary) account.
IMPS (Immediate Payment Service) is an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use their mobile phone as a channel for accessing their bank accounts and transferring money across bank accounts in a secured manner with immediate confirmation.
The service is instant and available 24X7, even on public/bank holidays. Customers can transfer funds in simple steps by providing the Bank Account Number and 11-digit Bank IFSC Code. Also, there is no pre-registration required for the beneficiary.
Any retailer who is registered with Pay 1 is eligible to use the Remit app. Once the KYC verification is completed from both and the Bank, the services for money transfer through Remit will be activated for you. You will be referred as a Customer Service Point (CSP) for money transfer.
No, there are no additional charges for registering to Remit Service. The existing login credentials (Mobile number and password) of the retailer for Recharge app can be used for Remit as well. You can start using the services once KYC verification is completed.
Your Aadhar Card, PAN Card, Shop Establishment Certificate are mandatory documents to be uploaded right now.
No, if your verification for any document is already done with Pay 1, in your application it should be displayed as verification completed.
No, KYC verification is mandatory before using the Remit services.
Limit of Fund Transfer per transaction: Rs. 5000
Limit of Fund Transfer per month: Rs. 50000
Minimum Transaction Amount: Rs. 100
Yes, there is only one wallet for any service offered by us.
The retailer who uses the service of Remit app is called a CSP (Customer Service Point)
The sender is the customer who walks-in to the retailer store for DMT service. On behalf of the sender, you will transfer the money to the selected beneficiary account. he Sender can also be called as Remitter.
The beneficiary is the recipient who receives the transferred money from the sender.
a) Name of the Sender
b) Mobile number of the Sender.
Not necessary; however, even if he / she holds a Bank Account, then also he / she can avail of the Remit Service.
You can register/ add a Beneficiary on behalf of the particular sender using the sender’s registered mobile number. For a particular sender, a maximum of 20 beneficiaries will be allowed for registration.
No. The Beneficiary can have an account with any bank; the only requirement is that the branch should be participating in IMPS.
Yes, you will be able to register the sender and his beneficiaries only through the Sender’s mobile number.
For a new sender, registration needs to be completed by providing mobile number and name. Existing sender can be searched directly on the home screen. The sender needs to add a beneficiary by providing details like Bank, Account number and Mobile number of the beneficiary. Existing beneficiary list is displayed as soon as a sender is searched. You needs to select the sender, beneficiary and amount to be transferred. The status of the transaction whether successful or failed gets displayed on the screen.
This is an INSTANT Money Transfer Service. The beneficiary gets an INSTANT update in his/her bank account for every successful credit. The sender also gets an SMS notification for every transaction.
No, but the sender & beneficiary both get SMS alerts from the concerned banks.
For each successful money transfer the charges will be debited directly from your wallet instantly.
Yes, you can view all previous transactions under the Reports section.
You need to provide the Order ID for the specific transaction. The customer care number is 022 – 42932244.
Yes, for a failed transaction you will get a refund directly in your wallet. This will also be available in the Reports section.
Remit allows you to 'review' every send money transaction before you confirm payment. Unfortunately, you cannot cancel a 'send money' transaction once you have confirmed it after review.
Yes, you can save an incomplete transaction from the transaction details screen.
Yes, you can search the sender’s details by feeding in his/her 10 digit registered mobile number.
You can enter the sender’s mobile number in the send money (Home screen). If that sender is not available in the system, then you can add the sender by tapping on the Add button in the search result screen.