How to add beneficiary in IDFC first Bank? 5 minutes process

IDFC Bank provides many forms of payment methods to transfer money. One such service is NEFT. The NEFT is a widely used method for transferring a big amount from one bank account to another. IDFC bank allowed customers to use the NEFT facility via Internet Banking and Mobile banking. But to use NEFT feature, you have to add the beneficiary first. In this guide, we will see how to add beneficiary in IDFC First Bank online in detail and step by step manner.

Things required to add beneficiary in IDFC First Bank

Keep these things ready to add beneficiary.

1. Beneficiary Account Number.
2. Beneficiary Account IFSC Number.
3. Bank Name of Beneficiary account.
4. Account type of beneficiary
5. Registered mobile number with IDFC Bank
6. Mobile number should be active to receive OTP via SMS.
7. IDFC bank Net banking Password.

How to add beneficiary in IDFC First Bank – 2 Easy methods

There are currently two methods available to add beneficiary.

1. Via IDFC Internet Banking
2. Via IDFC Mobile Banking

We will see both eh methods in detail –

Method 1- How to add beneficiary in IDFC First bank using IDFC Mobile App

1. Download IDFC Mobile app on your smartphone.
2. Register on the app using a registered mobile number, IDFC customer ID, and OTP.
3. Open the app and tap on Pay option from the bottom menu.
4. Now tap on Send Money button.
5. From the new screen, tap on New Payee button.
6. Enter the “Account Number” of Beneficiary and tap on Continue button.
7. Now, select the Bank Name of beneficiary account.
8. On the new screen, You can see the bank account holder’s name, which is fetched automatically by IDFC bank.
9. If the name could be fetched, enter the account number once again and enter account holder’s name.
10. On the same screen, enable “Add to Payee list” option.
11. Also, select “Before Sending Money” option to add the payee name. If you want to send money now, select “Add after sending money once.”
12. Tap on Add Payee button to add beneficiary in IDFC First bank account.
13. You will receive an SMS and Email regarding successful addition of beneficiary in your account.

Also Read – How to get IDFC first bank mini statement in Mobile?

Method 2 – How to add beneficiary in IDFC first Bank using IDFC Net banking

1. Open IDFC Internet banking website on your computer/smartphone – https://my.idfcfirstbank.com/
2. Login using your mobile number and password.
3. Click on Pay option from the menu and from here; it is the same process as mentioned in METHOD 1.

What is beneficiary activation in IDFC first bank?

There is a waiting time of 30 minutes to send the money to newly added beneficiary account. Also, you can send only Rs. 25000 for the first 24 Hrs to newly added beneficiary.

Remember these things after adding beneficiary in IDFC First Bank via Mobile App.

>> You will have to wait for 30 minutes to send the money to the newly added beneficiary account.

>> For security reasons, you can only transfer 2,00,000 for the first 24 Hrs. After 24 Hrs, you can transfer the money as per NEFT/IMPS limits set by the bank.

Must Read – How to block IDFC first bank Debit Card instantly.

Summary –

You cannot transfer money via NEFT without adding beneficiary in bank account. We have seen two best methods to add beneficiary in IDFC First Bank. If you have any doubt/query regarding this guide, please write to us in the comment section below.