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An mPassbook, or mobile passbook, is a digital facility offered by many banks that allows customers to view their bank account and transaction details on a smartphone. 

Instead of visiting a branch to update a physical passbook, you can use your bank’s official mobile application to check your account balance, transaction history and other available details. Depending on the bank, the facility may be part of the main mobile banking app or offered through a separate passbook application. 

This makes it easier to keep track of your savings or current account from almost anywhere without repeatedly visiting a bank branch. 

What is an mPassbook? 

In simple terms, an mPassbook is the digital version of a physical bank passbook. 

It allows you to access details of transactions associated with your bank account using your mobile phone. Depending on your bank, an mPassbook may display information such as: 

1. Account holder’s name and other basic details 

2. Account number and customer ID 

3. Bank and branch details 

4. IFSC 

5. Current or available account balance 

6. Deposits and withdrawals 

7. UPI transactions 

8. NEFT, RTGS and IMPS transactions 

9. Debit card transactions 

10. Interest credits and bank charges 

11. Cheque-related transactions 

The exact information shown varies across banks and applications. 

A Brief History of mPassbook 

Traditionally, banks maintained customer transactions in physical passbooks, which had to be updated manually at a branch. Over time, computerised banking and passbook-printing kiosks made the process faster. 

The growth of mobile banking then brought these records to smartphones through electronic or mobile passbooks. For example, SBI introduced its mPassbook facility in October 2014, making transaction records accessible digitally rather than requiring customers to visit a branch for every update. 

Today, similar digital passbook or transaction-history facilities are available through the mobile banking platforms of several Indian banks. 

Features and Benefits of mPassbook 

The exact features offered depend on your bank. However, common mPassbook benefits include the following. 

Easy Access to Account Information 

One of the primary benefits is convenient access to your transaction records. 

Instead of carrying a physical passbook or visiting a branch to update it, you can generally open the bank’s app and review the available account information on your phone. 

Saves Time 

An mPassbook can reduce the need to visit a branch just to check or update transaction records. 

Since transactions are updated electronically, you can track recent activity much more easily than with a traditional passbook requiring physical updates. 

Anytime Availability 

An mPassbook can generally be accessed 24×7 through your smartphone, subject to the bank’s app and systems being available. 

This can be particularly useful when you need to: 

• Check whether a payment has been credited 

• Review a recent debit 

• Track salary credits 

• Check account balances 

• Review previous transactions 

Some banking apps also allow previously synced information to be viewed offline. This feature is bank-specific and should not be assumed to be available in every mPassbook. 

Transaction Tagging 

Some mPassbook applications provide a tagging or personal-ledger feature. 

This allows you to add remarks or categories to individual transactions. For example, you could tag expenses as: 

• Groceries 

• Travel 

• Rent 

• Bills 

• Shopping 

• Medical expenses 

Over time, these tags can make it easier to understand where your money is being spent. 

Paisabazaar notes that tagging is available in some mPassbooks, allowing customers to add remarks to transactions and track spending according to purpose. 

However, tagging is not a standard feature across every bank’s app. 

Helps Track Income and Expenses 

Having access to transaction history on your phone makes it easier to review your cash flows. 

You can examine: 

• Monthly income 

• Recurring bills 

• Cash withdrawals 

• Online purchases 

• Transfers 

• Other regular expenses 

This can support budgeting and day-to-day financial management. 

Automatic or Near Real-Time Updates 

Physical passbooks need to be updated at a bank branch or passbook-printing machine. 

An mPassbook retrieves transaction information electronically and may display new transactions automatically or after the app is refreshed or synced. 

The timing of updates varies depending on the bank’s system. Therefore, “near real-time” or electronically updated is more accurate than assuming every transaction will always appear instantly. 

Convenient Record-Keeping 

A mobile passbook gives you an electronic record of your account activity without having to maintain a physical book. 

Some banks also allow customers to: 

• Search transactions 

• Select a date range 

• Add remarks 

• Download statements 

• Share transaction information 

The available functions vary between apps. 

Lower Risk of Losing a Physical Record 

A physical passbook can be misplaced or damaged. 

An mPassbook is linked to your banking service rather than a physical booklet, so your transaction information remains available through the authorised banking platform even if you change or lose the physical document. 

However, your mobile device and banking credentials must still be kept secure. 

Helps Monitor Unusual Transactions 

Regularly reviewing your account activity can help you notice transactions that you do not recognise. 

If you notice suspicious activity, contact your bank immediately through its official customer-care or fraud-reporting channels. 

An mPassbook should therefore be seen as a useful monitoring tool, although it does not itself prevent fraud. 

Can Help With Financial Record-Keeping 

An mPassbook can help you review transactions while preparing: 

• Budgets 

• Expense records 

• Tax information 

• Loan applications 

• Financial reconciliations 

However, an mPassbook screen or transaction list may not always be accepted as an official bank statement, identity proof or address proof. 

If an organisation requires a formally issued bank statement, download the appropriate statement through your bank’s official facility or request one from the bank. 

Is mPassbook Free? Charges Explained 

In many cases, banks offer their mPassbook facility without a separate usage fee. 

For example, Punjab National Bank’s official mPassbook FAQ states that its application is free to use, although the telecom operator may charge for the SMS used during registration. 

Similarly, mPassbook facilities offered by other banks may generally be included as part of their digital banking services. 

However, customers may still incur related costs such as: 

• Mobile data charges 

• SMS charges during registration or verification 

• Charges for particular premium banking services, where applicable 

• Other fees specified by the bank 

Therefore, mPassbook should not be described as universally free across every institution. 

Check your bank’s current schedule of charges and mobile banking terms for confirmation. 

Prerequisites for mPassbook 

Requirements vary between banks, but you may generally need: 

1. An active bank account 

• You need an eligible savings, current or other supported account with the bank. 

2. A registered mobile number 

• The number linked to your bank account is commonly required for registration and OTP or SMS verification. 

3. A smartphone 

• You will generally need an Android or iOS device that supports the bank’s application. 

4. Internet connectivity 

• An internet connection is typically required to register, log in and retrieve the latest account information. 

5. Your bank’s official mobile application 

• Download only the official application published or linked by your bank. 

6. Customer or account details 

• Some banks may ask for a customer ID, account information, debit card details or other information during registration. 

7. Login credentials or MPIN 

• Depending on the bank, you may need to create an MPIN or use existing mobile/internet banking credentials. 

For example, PNB currently specifies a registered mobile number, customer ID, compatible smartphone and internet connection among the requirements for its mPassbook service. 

How to Download and Register for mPassbook 

There is no single registration process followed by every bank. Some banks integrate the passbook into their main mobile banking application, while others may provide a dedicated facility. 

The process generally looks like this: 

Step 1: Find Your Bank’s Official App 

Go to the Google Play Store on Android or the Apple App Store on iOS. 

Make sure you select the official application provided by your bank. 

Step 2: Install the App 

Download and install the application on your smartphone. 

Avoid downloading APK files or banking applications from unknown websites or links received through messages. 

Step 3: Open the Application 

Launch the app and select the appropriate registration or login option. 

Step 4: Verify Your Registered Mobile Number 

The bank may verify the mobile number linked to your account using: 

• SMS 

• OTP 

• SIM verification 

• Another bank-approved verification method 

Step 5: Enter the Required Information 

Depending on your bank, you may need to provide details such as: 

• Customer ID 

• Account number 

• Debit card details 

• Date of birth 

• Existing mobile banking credentials 

Only enter this information inside the bank’s official application. 

Step 6: Complete Verification 

Enter the OTP or complete the verification process requested by your bank. 

Never share an OTP with another person, including anyone claiming to be a bank employee. 

Step 7: Create Your MPIN or Login Credentials 

Where applicable, set up an MPIN, password or biometric login. 

Choose credentials that are difficult for someone else to guess. 

Step 8: Log In 

Use your credentials to access the banking application. 

Step 9: Open the mPassbook or Accounts Section 

Navigate to an option labelled something similar to: 

• mPassbook 

• Passbook 

• Accounts 

• Transaction History 

• Account Statement 

The terminology varies across banks. 

Step 10: Select Your Account 

If you have multiple eligible accounts with the bank, select the account whose transactions you want to view. 

You should then be able to review the available account balance and transaction information. 

Tips to Use mPassbook Safely 

An mPassbook can be convenient, but it also contains sensitive banking information. 

Follow these precautions: 

• Download your bank’s app only from an official app store or link provided by the bank. 

• Never share your MPIN, password or OTP. 

• Use a strong phone screen lock. 

• Enable fingerprint or face authentication if supported. 

• Keep your operating system and banking application updated. 

• Avoid accessing banking services over unsecured public Wi-Fi. 

• Do not click suspicious links claiming to update or activate your mPassbook. 

• Check the developer/publisher before installing any banking application. 

• Report a lost or stolen phone to your bank where necessary. 

These practices help reduce the risk of unauthorised access to your banking information. 

Once your mPassbook is activated, regularly checking your account can help you stay aware of your balance and spending. 

If you need additional funds for an eligible urgent or planned personal requirement, you can also consider a Fibe Personal Loan. 

Eligible customers can currently apply for a Fibe Personal Loan of up to ₹10 lakh, subject to eligibility. Fibe’s published terms list interest rates starting from 18% per annum on a reducing balance basis, tenure of up to 36 months and nil foreclosure charges. 

The application process is digital, and final eligibility, loan amount, interest rate and other terms depend on the customer’s approved offer. 

Visit the Fibe website or download the Fibe app to check your eligibility and applicable terms. 

FAQs on mPassbook 

1.What is the use of mPassbook? 

An mPassbook is a digital version of a bank passbook that lets you review account and transaction information through your phone. 

Depending on your bank, you may be able to check: 

• Account balance 

• Credits and debits 

• Transaction history 

• Bank charges 

• Transfers 

• Other account information 

It reduces the need to visit a branch simply to update a physical passbook. 

2.What is the difference between a passbook and mPassbook? 

A physical passbook is a paper record issued by the bank that needs to be updated at a branch or passbook-printing facility. 

An mPassbook provides account and transaction records digitally through your smartphone. 

Feature	Physical Passbook	mPassbook
Format	Paper	Digital
Access	Requires physical passbook	Smartphone
Updates	Branch/kiosk update	Electronic
Availability	Depends on physical access	Generally accessible anytime through the app
Risk	Can be lost or damaged	Protected by device/app credentials
Transaction tagging	Generally unavailable	Available with some banks

3.Can I get a passbook in one day? 

It depends on the bank and type of passbook. 

An mPassbook may become accessible soon after you successfully register for the bank’s digital service, but activation time can vary. 

For a physical passbook, issuance depends on your bank, account type, branch facilities and whether additional verification is required. 

Therefore, it is better to check with your bank rather than assume that every physical or digital passbook will be issued within one day. 

4.Is an online passbook available? 

Yes. Many banks provide a digital passbook, account statement or transaction-history facility through their official mobile banking applications. 

The feature may be called mPassbook, ePassbook, account statement or transaction history, depending on the bank. 

Availability and supported account types vary between banks. 

5.What is m passbook and how is it different from internet banking? 

An mPassbook is primarily designed to let you view your account and transaction records digitally. 

Internet banking, on the other hand, is generally a broader banking platform. Depending on your bank, internet banking can allow you to: 

• Transfer money 

• Add beneficiaries 

• Pay bills 

• Open deposits 

• Request cheque books 

• Manage cards 

• Change account settings 

• Download statements 

• Access other banking services 

A standalone mPassbook may be view-only. For example, PNB’s official mPassbook FAQ states that its mPassbook can be used to view transactions but cannot be used for financial transactions such as fund transfers or bill payments. 

However, if the mPassbook is integrated into a full mobile banking application, you may be able to perform other transactions through separate sections of that app. 

6.Is mPassbook safe to use? 

An mPassbook can be safe when accessed through your bank’s official mobile application and used with appropriate security precautions. 

Banks commonly use protections such as: 

• OTP verification 

• MPIN or passwords 

• Device registration 

• Biometric authentication 

• Encrypted connections 

• Session controls 

However, security also depends on how you use your device. 

For safer access: 

• Never disclose your OTP or MPIN. 

• Avoid installing banking apps from unofficial sources. 

• Keep your phone locked. 

• Update your banking app regularly. 

• Avoid public Wi-Fi for sensitive banking activity. 

• Contact your bank immediately if you suspect unauthorised access. 

No digital banking service should be described as completely risk-free, but following proper security practices can significantly reduce the risk of unauthorised access.

Cheque bounce charges are a penalty that you must pay when the cheque fails to provide the promised amount. Writing a cheque is an agreement to pay the mentioned sum bound by the law. So, when you cannot honour it, these charges are a result. 

This may happen when your cheque payment is not cleared due to insufficient funds. This is called a ‘dishonoured’ or ‘bounced’ cheque. This is a punishable offence by law that can lead to a fine or imprisonment, depending on the circumstances.

Read on to know about cheque bounce charges, penalties, common reasons to avoid them and more. 

Penalty and Punishments in India

Dishonouring a cheque is a punishable offence under Section 138 of the Negotiable Instruments Act of 1881. According to this, you may have to face one of the following penalties:

• A fine of twice the cheque’s amount
• 2 years of imprisonment
• Maybe both, depending on the court’s order

Hence, you must maintain the required balance before issuing the cheque.

Common Reasons for Cheque Bounce

Knowing when and why your cheque may bounce helps you avoid such circumstances. Here are some reasons to keep in mind. 

• If your account does not have the required amount mentioned on the cheque
• If the payee presents the cheque after three months of its issuing date
• If the payee deposits it after the expiry date
• If there is overwriting on the cheque
• If the cheque gets damaged and the details are not visible
• If the drawer’s signatures are unclear or mismatched
• If the amount written in digits and words does not match
• If the cheque is post-dated
• If the bank has suspended the account

Also Read: What Is a Post-Dated Cheque?

New RBI Rules for Cheque Bounce 

In August 2021, the Reserve Bank of India announced a new rule related to bounce cheques. Here are its key pointers: 

• Maintaining a minimum account balance is important if you rely on cheques for financial transactions
• The National Automated Clearing House will remain operational 24/7 
• This rule is applicable to all government as well as private-sector banks

This allows you to clear the cheque faster.

Also Read: Fact about Cheque Leaf

Cheque Bounce Charges of Top Banks

Here is an overview of the cheque bounce penalty that applies to both parties of transactions of a few leading banks in India:

Bank	Outward	Inward	Technical Reason
State Bank of India	Up to ₹1 lakh: ₹150 + GST    Above ₹1 lakh: ₹250 + GST	For SME customers:₹500 for first 3 cheques₹1,000 for 4th cheques For other customers:₹500 + GST	₹150 + GST
ICICI Bank	₹200 for financial reasons	₹500 for financial reasons and ₹50 for non-financial reasons except for signature verification	₹200 for NACH Returns
HDFC Bank	1st cheque: ₹4502nd cheque: ₹5003rd cheque onwards: ₹550	₹350 per instance	₹50 for mismatched signs, post-dated, etc. and ₹500 for NACH Returns
Kotak Mahindra Bank	Up ₹350 for first return of the month and ₹750 on the second return and onwards	Up ₹1,000	₹50
Punjab National Bank	₹150 for up to ₹1 lakh₹250 from ₹1 lakh to ₹10 lakhs₹150 for over ₹10 lakhs	₹200 for up to ₹1 lakh₹500 from ₹1 lakh to ₹1 crores₹2,000 for over ₹1 crores	No charge
Axis Bank	₹500 per instance	₹50 for the 1st return₹100 from the 2nd return onward	No charge

Note that all these bank cheque bounce charges exclude GST and other applicable taxes. Also, these fees may vary at the discretion of the bank.

Now that you know how high the bank cheque bounce penalty can go, avoid such instances for better financial health. One way to manage such situations is to get an Instant Personal Loan if you have an insufficient balance.

With Fibe Instant Cash Loan, enjoy up to ₹5 lakhs financing for your umpteen requirements at attractive interest rates, minimum paperwork and quick disbursal. Moreover, we have easy-to-meet eligibility criteria that make the borrowing process easy. To apply, create an account on our website or download our Personal Loan App!

FAQs on Charges on Cheque Bounce 

How much does the bank charge for bounced cheques?

These charges vary from one bank to another. Moreover, it depends on whether it’s an inward or outward deposit.

What is the new rule for cheque bounce?

The RBI issued the latest cheque bounce notice in August of 2021, which states the following:

• All individuals must maintain sufficient balance for the cheque to clear to avoid a penalty
• The National Automated Clearing House (NACH) will remain operational 24X7

How can I avoid paying a cheque bounce charge?

Here are some tips to avoid these charges:

• Ensure that you maintain an adequate balance in your account
• Check the details on the cheque
• Make sure not to issue post-dated cheques if you don’t have sufficient balance
• Communicate with the recipient
• Avoid overwriting cheques
• Write the amount in words and figures accurately
• Ensure there’s no mismatch between the amount in words and figures
• Avoid making any mistakes when signing the cheque

Is it possible to file an FIR for cheque bounce?

Yes. It is possible to file an FIR against the issuer under Section 420 or 406 of the Indian Penal Code (IPC).

How many times is it possible for a cheque to bounce?

There is no limit, but most banks warn you 3 times before filing a complaint. Nevertheless, it’s best to add funds to your account to avoid cheque bounce or any legal trouble. 

What is the penalty for a cheque bounce in India?

The charges depend on the bank, ranging up to ₹750. 

What happens if I don’t pay the check bounce charges?

If you don’t pay the cheque return charges within 15 days, your bank can take legal action against you. 

Do check bounce charges affect my credit score?

No, it doesn’t affect your credit score directly. However, if the cheque is for paying an EMI, the delayed payment can impact your score.

Pay orders and demand drafts are both prepaid banking instruments used to make secure payments, but they are not the same. A pay order is usually used for payments within the same city or local banking area, while a demand draft is commonly used to transfer money to another city or location. Since both are issued by banks only after receiving the amount upfront, they are considered safer than personal cheques.  
Choosing a pay order vs demand draft depends on your payment requirements and several other factors. It includes clearance time, amount, acceptability and more. Although their use has reduced over the years, several merchants and individuals still rely on them. As such, knowing the difference between a pay order and a demand draft can help you choose the right option when needed. 

Read on to know their differences, features and more. 

What is a Pay Order? 

Pay order is also called a banker’s cheque that allows payment to an unknown third party. It is a payment instrument issued by the bank on your behalf. Using this, you can make secure and cashless payments without the banking details of the beneficiary. 
 
To generate it, you have to give the required amount in cash or cheque to the banking executive. Upon deposit, the same amount will get remitted into the beneficiary’s account. Now that you know the meaning of pay order, here are some other features: 

• Only the bank can issue a pay order 

• Once issued, there is no provision to cancel it 

• It may take up to 24 hours to process a pay order 

• You must pay the amount in cash or another accepted mode to place a request for these cheques 

• Only the beneficiary receives payment from it, making it a secure option 

• It is valid for three months from its issuing date 

• It is payable only in the issuing bank branch within the same city 

• It is a non-negotiable or pre-paid instrument with zero credit risk 

What is a Demand Draft? 

DD is a negotiable instrument that the bank issues at your request. This allows you to make payments without the risk of cheque bounce or dishonour. 

Similar to the pay order, it requires you to pay beforehand to make payments to third-party beneficiaries without their banking details. However, unlike a pay order, it allows you to make payments in any bank branch, even outside the city. Here’s an overview of key features of demand drafts. 

• It includes payee and beneficiary details 

• It is a secure payment option that allows individuals to pay funds directly 

• This instrument requires cash payment beforehand, which reduces the risk of dishonour and payment bounce 

• If the value is over ₹50,000, then you must pay by cheque and provide a PAN card 

• You must process a DD within the validity period of 3 months once issued 

• It may take a few hours to process 

• It allows you to make payments in international currency as well 

Also Read: What is a demand draft in banking? 

What’s the Difference Between Demand Draft and Pay Order? 

Here is an overview of the difference between a pay order and a demand draft. 

Table Mentioned 

When Should You Use a Pay Order or Demand Draft? 

• Use a pay order or demand draft when you need to make a secure payment. 

• These instruments are useful when the receiver wants a guaranteed payment from the bank. 

• Use them when making payments for: 

• School, college, or university fees 

• Government charges or application fees 

• Property or rent-related payments 

• Business transactions 

• Tender or contract payments 

• Loan or insurance-related payments 

• A pay order is usually used for payments within the same city or local area. 

• A demand draft is commonly used for payments to someone in a different city or location. 

• They are preferred when the receiver does not accept: 

• Cash 

• Personal cheques 

• Online transfers 

• They help reduce the risk of: 

• Cheque bounce 

• Payment failure 

• Delayed settlement 

• Use a pay order or demand draft when you need proof of payment for official or financial records. 

Cancellation and Reissuance of Pay Order and Demand Draft 

• Cancellation Request 

• Submit a written request at the issuing branch with the original instrument. 

• Provide valid ID and account details for refund. 

• If lost, submit an indemnity/declaration as per bank requirements. 

• Cancellation Process 

• Bank verifies instrument status (must be unpaid/uncleared). 

• Additional checks may apply for third-party instruments. 

• Upon approval, the instrument is cancelled and refund is initiated. 

• Refund Timeline 

• 1–3 working days if original instrument is submitted. 

• Longer timelines for lost instruments due to additional verification. 

• Refund is credited to the account or via approved mode. 

• Reissuance Request 

• Submit a written request for cases like errors, expiry, damage, or loss. 

• Original instrument required (except in case of loss with indemnity). 

• Reissuance Process 

• Bank verifies details and unpaid status. 

• New instrument issued with updated details and fresh validity. 

• Charges 

• Applicable cancellation and reissuance fees as per bank policy. 

• Additional charges may apply for duplicate issuance or indemnity. 

• Taxes levied as applicable. 

 
Knowing the features of pay order vs demand draft, you can easily choose the most convenient fund transfer option. However, if you do not have sufficient funds in your account, apply for a Fibe Instant Personal Loan to maintain the balance for clearing your payment. 

You can avail of up to ₹10 lakhs in a matter of minutes and at an attractive interest rate. In addition, you can enjoy a host of benefits, such as a complete digital application, minimum documents and no pre-closure charges. Download the Personal Loan App or go to our website to get started! 

FAQs on Pay Order vs Demand Draft 

What is the purpose of a pay order? 

A pay order is a non-negotiable financial instrument that allows payments within the same city. This is a secure method acknowledged by the bank, which gives a guarantee of payment to the receiver. 

How long does it take for a pay order to be clear? 

Pay orders are generally cleared within 24 hours of deposit but can remain valid for up to 3 months after issuance. 

Can a pay order be cancelled? 

No, once issued by the bank, there is no option to cancel a pay order. 

Is a pay order and a cheque the same? 

A pay order is a type of cheque that the banking executive drafts, while account holders can write a cheque themselves. 

Is pay order and DD the same thing? 

No, PO is useful to transfer funds within the same city, but DD is valid across India. One thing that both have in common is that you have to request the bank to issue it. 

Is a pay order safe? 

Yes, it’s a secure method of payment transfer as it is issued by the bank

If you’re wondering how to send money without sharing your account number, MMID is what you need. It’s a simple and secure way to transfer funds using mobile banking. MMID full form is Mobile Money Identifier. It’s a 7-digit unique code linked to your mobile number and bank account.

With this code, you can make instant Immediate Payment Service (IMPS) transfers without needing an account number or IFSC. This is a fund transfer facility offered by the National Payments Corporation of India (NPCI). In a nutshell, MMID means a convenient way to enable real-time mobile transactions.

Read on to know what is MMID in bank, how many digit code is Mobile Money Identifier, its process, benefits, uses and more.

What is MMID Number?

A Mobile Money Identifier number is a 7-digit code that is required to execute IMPS transfers. This is a unique identifier linked to your mobile number. You can make convenient transactions using MMID for mobile banking and make instant fund transfers, bill payments, shopping and more. 

Moreover, having MMID replaces the need to have the payee’s details, such as:

• Account number
• Branch name
• IFSC code 

How to Find Your MMID Number?

Before generating a new MMID, check if one is already assigned. Most banks create it automatically when you activate mobile banking. You can find your MMID number easily by following these steps:

• Open your bank’s mobile app or log in through net banking
• Go to the section for mobile services or IMPS
• Look for the option that lets you view or get your MMID
• Follow the on-screen instructions provided by your bank

Your MMID will either be displayed on the screen or sent to your registered mobile number. If no MMID is available, you’ll be prompted to generate one.

How to Generate MMID? 

You can generate MMID quickly using 3 simple methods – mobile banking, net banking or by calling customer care. Here’s a quick look at all 3 options:

• Mobile Banking: Use your bank’s mobile app to log in and generate MMID instantly.
• Net Banking: Log in to your bank’s website and request an MMID online.
• Customer Care: Call from your registered mobile number and request MMID without internet.

Now, let’s look at the steps for each method in detail:

Via Mobile Banking

Follow these steps if you want to generate MMID on your phone instantly: 

• Step 1: Log in to your bank’s mobile banking app
• Step 2: Go to ‘Accounts’
• Step 3: Select the ‘Generate MMID’ option
• Step 4: Enter the details and confirm

Via Net Banking

Following these steps, you can also generate MMID on a desktop via net banking:

• Step 1: Visit your bank’s net banking portal
• Step 2: Log in with your credentials 
• Step 3: Go to the main page 
• Step 4: Select the ‘Generate MMID’ option
• Step 5: Enter the required details 
• Step 6: Verify your details 

Though Customer Care

To generate MMID without internet access, you can follow these steps:

• Step 1: Call the bank’s customer service number
• Step 2: Choose your preferred banking language
• Step 3: Follow the instructions to request the MMID-generating service 
• Step 4: Share your details 

After you have successfully completed the steps, your MMID will be generated and shared on the registered mobile number. Note that you need to call from your registered mobile number. 

Advantages of Mobile Money Identifier (MMID)

Know these benefits to understand the meaning of MMID:

• It makes digital fund transfers simplified 
• It allows interbank payments 
• It allows real-time payment through IMPS
• It reduces the risk of fraud and theft when making third-party payments
• It adds convenience to the fund transfer process 

How to Use MMID for Funds Transfer?

Here are the mobile banking steps you can follow when sending funds through MMID:

• Step 1: Log in to your mobile banking app 
• Step 2: Go to the ‘Fund Transfer’ section 
• Step 3: Select the ‘IMPS’ option
• Step 4: Enter the beneficiary’s MMID and mobile number
• Step 5: Enter the amount 
• Step 6: Click on ’Confirm’
• Step 7: Verify your payment with OPT or MPIN 

After verification, all the parties will get an SMS notification to confirm the payment. 

Key Points to Remember When Using MMID 

Now that you know how to use MMID, here are some facts to know. 

• The payee and the payer must be registered for the MMID and mobile banking
• You must confirm the IMPS charges with your bank
• You must have SMS services enabled on your bank’s registered mobile number
• The maximum daily IMPS limit is ₹5 lakhs 

Using these points, you can operate the IMPS fund transfer facility on your mobile banking app to send and receive funds. MMID makes fund transfers fast and convenient without the need to visit your nearest bank branch. Similarly, if you need urgent finance to manage your planned or unplanned needs, apply for a Quick Personal Loan.  

Get up to ₹5 lakhs with a completely digital process, and enjoy attractive interest rates, quick approval and other benefits. Moreover, you can close your loan anytime without additional fees and charges. So, download our Personal Loan App or register on our website to apply! 

FAQs on MMID

How do I find my MMID number?

You can find your MMID by contacting your bank’s customer support or through mobile banking. 

Is MMID and IFSC code the same?

No, the MMID number and IFSC code are different details used to make fund transfers. The MMID code is an option you can use instead of the payee’s account number and IFSC code. 

What is a 7-digit MMID code?

MMID is a 7-digit unique code that allows immediate transfer of funds using IMPS through multiple channels. 

How do I transfer money using MMID?

To use the MMID code, you must initiate a fund transfer through IMPS on your mobile banking app.

Post-dated cheque is the one in which the date written is some time in future. It cannot be cashed until that particular date comes. Post dated cheque or PDC is widely used in India for making payments towards rents, EMIs, loans, businesses etc. Validity of PDC cheque is 3 months from the date on the cheque. 

If you have been looking for what is PDC, what is post dated cheque or what is PDC cheque, then here you will find PDC meaning – what is a Post Dated Cheque and How it works along with its validity, rules, uses and penalties.  

What is a Post-Dated Cheque? 

Post-dated cheque or simply PDC is the one which carries a future date rather than the current date written on it by the issuer. It should be processed by the bank only after the future date is written. 
Suppose today is 5th April and you write a cheque dated 10th April. It can only be deposited starting from 10th April. Until that date, the cheque is not payable. 

Post-Dated Cheque Example 

Let’s say your monthly rent is ₹25,000 and your landlord asks for rent assurance for the next 3 months. You may issue 3 post-dated cheques: 

Cheque Date	Amount	Purpose
5 July 2026	₹25,000	July rent
5 August 2026	₹25,000	August rent
5 September 2026	₹25,000	September rent

The landlord can deposit each cheque only on or after the date written on it. This makes payment planning easier and reduces the need for manual reminders every month. 

How Does a Post-Dated Cheque Work? 

A post-dated cheque works like a normal cheque, but with one key difference: the date is in the future. 

Here’s how it usually works: 

1. The payer writes the cheque with a future date. 

2. The receiver keeps the cheque until that date. 

3. On or after the cheque date, the receiver deposits it. 

4. The bank verifies the cheque details and balance. 

5. If everything is correct and funds are available, the amount is transferred. 

For instance, if your salary is credited on the 10th of every month, but you need to give a payment commitment on the 5th, you can issue a cheque dated 10th. This gives you time to maintain balance while assuring the receiver. 

How to Write a Post-Dated Cheque? 

Writing a post-dated cheque is similar to writing a regular cheque. The only difference is the date. 

Follow these steps: 

• Write the payee’s name clearly 

• Enter the amount in words and numbers 

• Mention the future date on which the cheque should be deposited 

• Sign the cheque as per your bank records 

• Avoid overwriting or unclear handwriting 

• Keep a record of the cheque number, amount and date 

Example 

If today is 5 May and you want the cheque to be encashed on 12 May, write 12 May as the cheque date. Do not write today’s date if you do not want the money to be withdrawn immediately. 

What is the Post-Dated Cheque Validity? 

A post-dated cheque is usually valid for 3 months from the date written on it. 

Here’s an example: 

Cheque Date	Valid Till
1 January 2026	31 March 2026
15 April 2026	14 July 2026
10 June 2026	9 September 2026

If the cheque is deposited before the mentioned date, the bank may decline it because it is not yet payable. If it is deposited after the validity period, it may be treated as stale and may not be honoured. 

Post-Dated Cheque vs Stale Cheque: Key Differences 

Factor	Post-Dated Cheque	Stale Cheque
Meaning	A cheque with a future date	A cheque deposited after its validity period
Can it be deposited immediately?	No, it should be deposited on or after the written date	No, it may be rejected
Validity	3 months from the cheque date	Becomes stale after validity ends
Example	Cheque dated 10 July, issued on 5 July	Cheque dated 1 January, deposited after 31 March
Common reason	Future payment planning	Delayed deposit by receiver

What is the Rule for Writing a Post-Dated Cheque? 

Before issuing a PDC, keep these rules in mind: 

• Use a future date: Mention the exact date on which the payment should be made. 

• Maintain sufficient balance: Ensure your account has enough funds before the cheque date. 

• Fill all details correctly: The payee name, amount and signature should match bank records. 

• Avoid overwriting: Banks may reject cheques with unclear edits or corrections. 

• Inform your bank if needed: Written instructions can help avoid confusion in some cases. 

• Track issued cheques: Maintain a list of cheque numbers, dates and amounts. 

A useful rule to remember is: ‘Issue a PDC only when you are confident that funds will be available on the date written.’ 

Common Uses of Post-Dated Cheques in India 

Post-dated cheques are commonly used for planned or recurring payments. Some examples include: 

• Monthly rent payments 

• Home loan or personal loan EMIs 

• Vehicle loan instalments 

• Business credit payments 

• Security deposits 

• School or coaching fee instalments 

• Supplier payments 

• Repayment assurance in lending agreements 

Many businesses and individuals prefer PDCs because they create a clear payment record and help schedule future transactions. 

What are the Penalties for Dishonouring a Post-Dated Cheque? 

If a post-dated cheque bounces due to insufficient funds or similar reasons, it can lead to legal consequences under Section 138 of the Negotiable Instruments Act, 1881. 

Possible consequences may include: 

• Legal notice from the payee 

• Fine that may extend up to twice the cheque amount 

• Imprisonment of up to 2 years 

• Both fine and imprisonment, depending on the case 

This is why it is important to issue a PDC only when you can maintain enough funds on the cheque date. 

Things to Keep in Mind When Writing a Post-Dated Cheque 

Before issuing a post-dated cheque, follow this checklist: 

• Confirm the payment date with the receiver 

• Keep enough balance before the cheque is deposited 

• Recheck the amount in words and numbers 

• Make sure your signature matches bank records 

• Do not issue blank cheques 

• Avoid overwriting on the cheque 

• Maintain a written record of the cheque 

• Inform the receiver if there is any payment issue before the due date 

• For business payments, record the transaction in company books 

These small checks can help you avoid payment delays, penalties and disputes. 

If you are short of funds and need urgent financial support, you can consider applying for a personal loan instead of risking a cheque bounce. At Fibe, you can apply for a 100% digital Online Personal Loan with a loan amount of up to ₹10 lakhs. With quick disbursal, minimal paperwork and a digital application process, it can help you manage planned or urgent financial needs with ease. 

Download the Fibe Personal Loan App or visit the Fibe website to apply online. 

FAQs on Post-Dated Cheques 

Why is it called a post-dated cheque? 

It is called a post-dated cheque because it carries a future date. The cheque can be deposited or encashed only on or after the date written on it. 

What is the time limit for a post-dated cheque? 

A post-dated cheque is generally valid for 3 months from the date mentioned on the cheque. 

What does PDC mean in banking? 

In banking, PDC means Post-Dated Cheque. It refers to a cheque issued with a future date for payment at a later time. 

What happens if a post-dated cheque is presented before the date? 

If a post-dated cheque is presented before the date written on it, the bank may decline or return it because it is not yet payable. 

What is the difference between a post-dated cheque and an ante-dated cheque? 

A post-dated cheque has a future date, while an ante-dated cheque has a past date. For example, if today is 10 June, a cheque dated 15 June is post-dated, while a cheque dated 5 June is ante-dated. 

Can I cancel a post-dated cheque after issuing it? 

Yes, you may request your bank to stop payment on a cheque. However, cancellation can have legal or contractual consequences if the cheque was issued against a valid payment obligation. It is better to inform the receiver and document the reason. 

Is a salary account a CASA account? 

Yes. A salary account is generally considered a type of CASA account. CASA stands for Current Account Savings Account, and salary accounts usually fall under the savings account category.

Choosing between IMPS vs NEFT electronic fund transfer options depends on multiple factors. These two options serve the same goal of making convenient fund transfers but have many distinct features and benefits. 

Old-school fund transfer methods allow you to send and receive a higher amount through multiple channels. Therefore, many private and government agencies rely on these options for fund transfer.

Read on to learn more about NEFT vs IMPS differences and choose a convenient option.

What Do You Mean by IMPS and NEFT?

IMPS stands for Immediate Payments Service, which is an electronic payment facility established by the National Payments Corporation of India (NPCI). NEFT, on the other 

hand is an acronym for National Electronic Fund Transfer, launched by the RBI. 

Both these fund transfer options allow you to make interbank transactions nationwide. All you have to do is provide basic details of the beneficiary available, and you can choose from either option at your convenience. 

All You Need to Know About IMPS vs NEFT 

Here are a few essential pointers you must know to understand the features of IMPS vs NEFT.

• Availability: Both mechanisms of fund transfer are available round the clock, including bank holidays 
• Timing: IMPS facility allows real-time transfer, but NEFT conducts transfer in half-hourly batches 
• Transfer Limit: The maximum amount for IMPS is ₹5 lakhs, but NEFT has no upper limit 
• Transaction Charges: Know that IMPS vs NEFT charges are levied based on the bank’s policy 
• Details Required: IMPS allows transfer using the Mobile Money Identifier (MMID) and account details, but for NEFT, you only need account details  

In addition, here is a tabulated overview of IMPS vs NEFT: 

Particular	IMPS	NEFT
Mode of transfer	Online	Offline and online
Settlement Type	Real-time	Half-hour
Time taken	Instant	Batches of half-hour
Limit	Minimum: ₹1 Maximum: ₹5 lakhs	Minimum: ₹1 Maximum: As per the bank’s discretion
Charges	Up to ₹10,000: ₹2.5 + GST₹10,001 – ₹1 lac: ₹5 + GST₹1 lac – ₹2 lakhs: ₹15 + GST	Up to ₹10,000: ₹2.5 + GST₹10,001 – ₹1 lac: ₹5 + GST₹1 lac – ₹2 lakhs: ₹15 + GST Above ₹2 lakhs: ₹25 + GST

How to Transfer Funds Using IMPS and NEFT

To initiate a fund transfer with IMPS, follow these steps. 

• Step 1: Choose the net or mobile banking option 
• Step 2: Select ‘Fund Transfer’
• Step 3: Opt for ‘IMPS’ 
• Step 4: Select ‘Add beneficiary’ 
• Step 5: Enter the required details and amount
• Step 6: Submit the details 
• Step 7: Verify the transfer with OTP

If you choose IMPS, here are the steps you must follow.  

• Step 1: Log in to your net banking account 
• Step 2: Click on ‘Add beneficiary’
• Step 3: Enter beneficiary details, such as name, account type, account number, and IFSC information
• Step 4: Select the NEFT option 
• Step 5: Enter the amount and submit

Also Read: Difference Between NEFT and RTGS

Once you add the new beneficiary, you must wait for a period of 30 minutes before proceeding ahead. However, there is no such waiting time for IMPS. So, consider this criterion when choosing IMPS vs NEFT. 

Which is Better: IMPS vs NEFT

While both options have equal security and reliability, you must consider all the factors, such as time taken, amount and charges, when comparing IMPS vs NEFT. You can choose either option to make a transaction for up to ₹5 lakhs. But for a higher amount, you can opt for NEFT. 

Since the charges for both are the same, you will pay an equal fee for both facilities. However, you must consider the processing time, as you may have the advantage of instant transfer via IMPS. Nevertheless, if it’s not an urgent payment, you can also choose NEFT.

In conclusion, you can choose from either option to make a fund transfer depending on the urgency and your fund transfer limit. However, if you require urgent funds for any financial emergency or otherwise, you can apply at Fibe. 

With Fibe Personal Loan Online, you can get up to ₹5 lakhs quickly. A 100% digital application process, affordable interest rates and convenient tenure options are a few added perks you stand to enjoy when you opt for Fibe. Download the Personal Loan App or visit our website to apply now!

FAQs on IMPS vs NEFT

Is IMPS chargeable?

Yes, banks have variable charges for IMPS fund transfers depending on your amount. However, these charges only apply for outward IMPS transactions, and inward IMPS transfers have no fees. 

Is NEFT free?

No, you must pay some fees to facilitate NEFT transactions, which depends on your transfer amount. 

What is the limit of IMPS?

You can send a minimum ₹1 up to ₹5 lakhs through IMPS. However, the upper limit for fund transfers is subject to bank policy. 

Does IMPS have a daily limit?

Effective February 1, 2022, the daily maximum fund transfer limit for IMPS is up to ₹5 lakhs.