Prime Minister Narendra Modi led Government of India launched India Post Payment Bank in the year 2018 as an initiative and an attempt to revive the India Post for which Narendra Modi should be appreciated as he nailed it. Government of India announced that India Post Payment Bank would operate as normal banks in India but initially, the services offered by India Post Payment Bank has limited access and service in fact it was lagging in providing essential banking services which include lack of interbank and intrabank services, unfunctional ATM cum debit card services and online fund transfer from other banks to India Post Payment Bank or India Post Payment Bank to other banks.
On 15th December 2020, India Post Payment Bank announced UPI based app similar to BHIM UPI and listed India Post Payment Bank on all the UPI platforms enabling inter-banking services and fund transfer services from India Post Payment Bank to other banks or from other banks to India Post Payment Bank.
Now no matter whether your account is in State Bank of India, ICICI Bank, HDFC Bank, Syndicate Bank, Allahabad Bank or Punjab National Bank you can transfer money from other banks to India Post Payment bank and from India Post Payment Bank to others using the following payment options:
We’ve already covered in detail the Best Ways to Transfer Money from ATM & Debit to Another Bank Account Online
.To transfer money from other banks to India Post Payment Bank:
To transfer money from India Post Payment Bank to other banks You must have an ATM Debit card or Internet banking facility active in your India Post Payment Bank account.
If you have ATM Debit card issued against your India Post Payment Bank account you can follow these instructions:
If you’ve internet banking facility active for your India Post Payment Bank account, then you can simply login into your India Post Payment Bank’s Internet banking account and initiate the fund transfer using NEFT, RTGS or IMPS.