Buy bitcoin with IMPS

What is IMPS?

IMPS, the Immediate Payment Service, is India's round the clock interbank transfer rail. It is run by the National Payments Corporation of India (NPCI) and reaches customers through their own bank's app, net banking, ATMs and branches rather than through any NPCI product of its own. A transfer moves rupees from one Indian bank account to another using the account number and IFSC code, or a mobile number and MMID. Banks offer it alongside NEFT and UPI.

Speed

Credit is immediate and the service runs 24 hours a day, every day of the year, weekends and bank holidays included.

Cost

The scheme publishes no consumer price, so you pay whatever your own bank charges for an outward IMPS transfer, normally a small flat amount by value slab plus tax rather than a percentage.

Limits

The per transaction ceiling is 5 lakh rupees for all channels except SMS and IVR, and your bank may apply a lower daily cap of its own.

Speed and cost describe the rail itself. What an exchange adds on top varies by platform and is shown per exchange below.

Using IMPS in India

IMPS appears in one country guide on this site, India, where deposits settle in Indian rupee (INR). Buyers there fund exchange accounts with UPI, NEFT, Credit or debit card, P2P marketplaces with escrow as well, and the country guide ranks the exchanges that take each one.

Buy bitcoin with IMPS in India