Banking is all about the money, the money which we have earned, the money which someone has lent us and any miscellaneous income that we receive in our bank account. But what happens when we have got the money in our bank account? How can we withdraw the money? Well, there are many methods using which we can withdraw the money from our bank account. It can be using the withdrawal slip or the ATM Card. But one very important thing across which we come in the Banking industry is the fund’s transfer. But to do it you need to add beneficiary in your internet banking account.
I will be telling you all the steps which you need to follow to add beneficiary in IDFC First Bank’s Internet Banking. The procedure is quite simple and I am pretty sure you will get this done within 10 minutes if you have proper instruments with you. To add beneficiary you will require a desktop/laptop computer, a stable internet connection, and your account credentials. If you don’t want to use the desktop/laptop computer then you can use your smartphone as well. But for that, you will have to install the official mobile banking application of the IDFC First Bank.
One more thing which you should note and that is you should always use anti-virus software with internet security when you are using internet banking. If not you will be prone to be hacked. But what actually the term beneficiary means? Let me tell you about it.
- What is Beneficiary in Internet Banking?
- About IDFC First Bank
- How to Add Beneficiary in IDFC First Bank Internet Banking?
- How Can I Add Beneficiary in IDFC First Bank?
- Are there any charges to add the beneficiary?
- How to add an Inter-bank Beneficiary?
- What is an Inter-bank Beneficiary?
- What is Intra-bank Beneficiary?
- Can I Add Beneficiary without knowing my username and password?
- Can I delete the beneficiary once added?
- How much time it takes for beneficiary activation?
- Can I transfer money before the beneficiary is activated by the bank?
- What is Payee Limit?
What is Beneficiary in Internet Banking?
The beneficiary is the person to whom you want to send the money. Now, for example, you want to do a funds transfer to Mr. XYZ then he is the beneficiary here. You have to add his bank account details which constitutes the beneficiary in Internet Banking.
Before we proceed to the further part of this article let me tell you about the IDFC First Bank in brief. You should know about the bank where you hold your bank account and store all your hard-earned money.
About IDFC First Bank
|Type of the Bank||Private Bank|
|Traded As||BSE: 539437
|Industry||Banking and Financial Services|
|Predecessor||IDFC Bank and Capital First Limited|
|Head Quarters||Mumbai, Maharashtra|
|Chairman (January 2020)||Rajiv Lall|
|MD and CEO (January 2020)||Mr. V. Vaidyanathan|
|Products||Consumer banking, Corporate banking, Wholesale banking, Mortgage loans, Private banking, Wealth management, Investment banking|
|Revenue (2017)||₹85.3272 billion|
|Operating Income (2017)||₹30.30 billion|
|Net Income (2017)||₹10.20 billion|
|Total Assets||₹1.12160 trillion|
|Number of Employees (July 2018)||7,043|
|Customer Care Phone Number (toll-free)||1800 419 4332|
|Customer Care E-Mail ID||[email protected]|
How to Add Beneficiary in IDFC First Bank Internet Banking?
You can add beneficiary in IDFC First Bank using two methods. The first one is with the help of internet banking and the second one with the help of the mobile banking application. I will be explaining to you both these methods in this article you can use the one which is more convenient for you.
If the beneficiary does not have the bank account in the IDFC First Bank then you should choose outside the IDFC First Bank option in step number 8.
It will take 30 to 50 minutes for your beneficiary addition to getting activated. After that, you can make funds transfer to your beneficiary.
So these are the two methods and the steps which you need to follow to add beneficiary in IDFC First Bank. I hope you are clear with all the details and the steps which are mentioned in this article. If you have any kind of doubts in your mind regarding the addition of beneficiary then you can comment down below. If you want to get assisted quickly right now then you can call the customer care of the bank on their toll-free number: 1800 419 4332 and talk to their customer care executive for more details.