Transfer Money Between Wallets

This feature enables the retail user having a wallet account with the bank, to initiate the payments from his wallet to the other user's wallet by specifying his mobile number without adding him as a payee. This is the easy, quick and safe method of payment, the user just needs to enter the mobile number of payee and amount to be paid.

The ‘Between Wallets’ option in the 'Transfer Money' screen enables the user to initiate the wallet to wallet transfer.

Prerequisites:

Transaction and account access is provided to retail user
The retail user and the payee has a wallet account for the purpose of transferring funds via wallet

You are here How to reach here:

Dashboard > Wallets Widget > Send Money > Transfer Money
OR
Dashboard > Toggle Menu > Payments > Payments and Transfers > Transfer Money

To transfer money between the wallets:

In the Transfer Type field, select the Between Wallets option.
The fields by which to initiate a fund transfer between the wallets appear.

Field Description

Field Name	Description
Transfer From	Displays the wallet as a source account from which the funds are to be transferred.
Recipient Mobile Number	The mobile number of the recipient, to whom the funds is to be transferred.
Amount	Specify the amount to be transferred. Balance in the wallet account is shown below for easy reference.
Currency	The currency in which the transfer is to take place. CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. is defaulted to destination account currency.
Note	Any note or message to be conveyed along with the transfer to another wallet.

In the Recipients Mobile Number field, enter the mobile number of the payee.
In the Amount field, enter the transfer amount.
In the Note field, specify a note or remarks.
Click Transfer to initiate the payment.
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
OR
Click the Back to Dashboard link, to navigate to the dashboard.
The Transfer Money - Review screen appears. Verify the details, and click Confirm.
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Back to navigate back to previous screen.
The success message appears, along with the reference number and transaction details.
Click Go to Dashboard, to navigate to the dashboard.
OR
Click Bill Pay to go to the Bill Payment screen.
OR
Click Add Favorite to mark the transaction as favorite. For more information click here.

Note:
1. Currently users will not be able to use any future dated transaction or utilize pay later options using their Wallet Account.
2. Only OTP should be maintained as the second factor authentication mode for ‘Wallet Registration’ event. Other second factor authentication modes like Soft Token, Security Questions etc. are not supported for this event.

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