If you wish to send money from your bank account to someone else’s, you must make that person a beneficiary in your account. Most bank clients are unaware that you cannot transfer funds from your account to someone who is not on your beneficiary list right away. To send money to someone else’s bank account, you must first add them as a beneficiary.
Add Beneficiary in HDFC Bank using Internet Banking
- Add Beneficiary in HDFC Bank using Internet Banking
- Add Beneficiary in HDFC Bank using Mobile Banking Application
- HDFC Bank Beneficiary Activation Time
- Frequently Asked Questions
- When does the beneficiary get the credit for an NEFT Transaction?
- If an NEFT transaction is not credited to a beneficiary account, does the payer get a refund?
- Can we transfer money without adding beneficiaries to the HDFC Bank?
- What is the beneficiary activation cooling period in the HDFC Bank?
- How many beneficiaries can be added to the HDFC bank account?
How to add a beneficiary to your HDFC Bank Net Banking account:
Step #1: Go to the official website HDFC Bank Netbanking.
Step #2: Enter your customer id and password on the websites.
Step #3: Go to the website and select Money Transfer from the drop-down menu.
Step #4: Click on the new beneficiary after selecting Add Beneficiary.
Step #5: The next screen will display the two beneficiary bank type selections. If your beneficiary has an HDFC bank account, choose Within HDFC; if your beneficiary has an account with another bank, choose Other Banks.
Step #6: The website will request information about the beneficiaries/payees, including account numbers, IFSC codes, bank names, nicknames, and so on.
Step #7: After double-checking the information, click the confirm button.
Step #8: Enter the one-time password (OTP) that was sent to your registered phone.
Step #9: Press the Next button.
Step #10: The HDFC bank net banking will be used to add the beneficiary.
Add Beneficiary in HDFC Bank using Mobile Banking Application
How to add a beneficiary to your HDFC Bank Mobile Banking account:
Step #1: Get the official HDFC mobile banking app and open it.
Step 2: Log in with your customer id and password.
Step #3: Select the Pay option from the menu bar.
Step #4: Select the Money Transfer option from the drop-down menu. A new screen with a list of banking alternatives will display.
Step #5: Choose the option to Add New Payee. Under Transfer Type, the application will now present you with two options.
Step #7: Enter the beneficiary’s information, such as the bank name, IFSC code, nickname, account or card number, and so on.
Step #8: Select the type of transfer: HDFC Bank or Non-HDFC Bank account.
Step #9: Finally, tap the Confirm button to double-check your information.
Step #10: On the next screen, enter the One Time Password. The OTP will be sent to your registered mobile number.
Step #11: Verify your OTP by tapping the Proceed button.
Step #12: Your beneficiary will be added after verification.
HDFC Bank Beneficiary Activation Time
The beneficiary will be activated in HDFC Bank after 30 minutes due to security concerns. Choose See Beneficiary from the Inquiry Area to see the Beneficiary. Payments of up to Rs. 50,000 (in full or in part) can be made for the first 24 hours after beneficiary activation.
Frequently Asked Questions
When does the beneficiary get the credit for an NEFT Transaction?
Within 30 minutes to 4 hours, the NEFT transaction can be completed.
If an NEFT transaction is not credited to a beneficiary account, does the payer get a refund?
The money will be sent back to the payer’s account if the beneficiary’s bank does not or cannot credit the money in the beneficiary’s account.
Within two business hours, the money will be credited to the payer.
Can we transfer money without adding beneficiaries to the HDFC Bank?
Customers of HDFC Bank can send money without adding recipients. Users can transfer money via the IMPS service and their Mobile Money Identification Number (MMID).
What is the beneficiary activation cooling period in the HDFC Bank?
The cooling period is the time after beneficiary activation when the payer is unable to transfer funds up to a particular limit.
The cooling period for HDFC bank is 30 minutes.
How many beneficiaries can be added to the HDFC bank account?
Customers of HDFC Bank can add up to seven beneficiaries in a single calendar day.