Nowadays people love Internet banking. You can transfer money from one bank account to another through HDFC netbanking. To transfer money using Internet banking, you need to add the person as your beneficiary first. Therefore, here I will tell you how to add beneficiary in HDFC Bank to transfer money.
It is very easy to transfer funds through internet banking from the comfort of your home. But we cannot transfer money immediately to other person account if he/she is not on your beneficiary list.
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Add Beneficiary in HDFC Bank
You can add a beneficiary to your HDFC account and start transferring money to them within 24 hours. Adding a beneficiary is a one-time process. Once you added a person as a beneficiary, you can transfer money to him/her any time later.
You can transfer money within HDFC, as well as to the accounts in other banks. You can make a transfer to other bank accounts using IMPS, NEFT, or RTGS.
Funds Transfer within HDFC Bank
You can transfer funds from your HDFC account to any other HDFC accounts. To transfer funds to other accounts within HDFC, you need to add a beneficiary.
If you are not aware of how to add beneficiary in HDFC Netbanking then this post will guide you.
Things you need for adding a beneficiary in HDFC Bank
To add a beneficiary in HDFC Netbanking account, you need the following:
1. Account number
2. Account type
3. IFSC code
4. Name of the person
How to add Beneficiary in HDFC Bank to transfer money?
Here I will show you how to add payee in HDFC Netbanking. The process to add beneficiary is very simple and hardly takes time but beneficiary activation takes 30 minutes. Just follow the below-mentioned steps:
1. Visit the HDFC Bank official website (www.hdfcbank.com).
2. Login using your HDFC netbanking User ID and Password.
3. Now, click on the “Funds Transfer” option on the main menu.
4. Next, click on the “Request” option on the left-hand side of the screen.
5. Click on “Add a Beneficiary” under the “Request” option in the left menu bar.
6. Here select transaction type – transfer within HDFC Bank, transfer to another bank using NEFT/RTGS/IMPS. After selecting the option, click on the “Go” tab to proceed further. Here, I have selected the “transfer to another bank NEFT/RTGS/IMPS” option.
7. On the next screen, fill in the beneficiary details such as his/her bank account number, account type, IFSC Code, name, and Email ID. IFS Code only requires when you are adding a beneficiary of other banks. Click on the “Add” tab.
8. Here you need to check your details and click on the “Confirm” tab.
9. Next screen, confirm your mobile number to receive OTP (One Time Password). Click on the “Continue” tab to receive OTP on your mobile number.
10. Next page, enter the OTP which was sent on your mobile number. Click on the “Continue” tab.
11. Once the entire process is complete, the page informs you that the beneficiary added successfully.
12. The newly added beneficiary will be activated after 30 minutes of adding.
13. Once it is activated then you can send money to the newly added account.
14. This is how to add payee in HDFC Bank Account.
Notable Points
Keep the following points in mind while adding beneficiary in HDFC Bank Netbanking.
1. The newly added beneficiary activated after 30 minutes of adding.
2. For newly added Beneficiary, please note:
a) NEFT/IMPS – A maximum of Rs.2 lakh (in full or parts) can be transferred to that beneficiary in the first 24 hours post addition.
b) RTGS – A maximum of Rs.5 lakh (in full or parts) can be transferred to the beneficiary in the first 24 hours of beneficiary addition.
c) After this cooling period, the Third Party Transfer limits will apply.
d) Click on “View List of Beneficiaries” to check beneficiary status.
3. An added beneficiary is treated as a new beneficiary in all respects if no funds are transferred for more than 24 months.
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How to Add Beneficiary in HDFC Mobile App
Here I will show you how to add beneficiary in HDFC App. If you are using HDFC Bank MobileBanking App then you can add beneficiaries in HDFC Mobile Banking App. If not then download this app and register yourself.
Below is the complete process for adding a beneficiary in HDFC Bank App
1. Log in to the HDFC Mobile Banking App.
2. Once logged in, tap on the menu.
3. Next screen you need to tap on the “PAY” tab.
4. Next tap on the “Money Transfer” tab.
5. Here, click on the “ADD NEW PAYEE” link.
6. Next step, tap on the “Bank Accounts” option.
7. Here, select your account category – HDFC Bank Account, Non-HDFC Bank Accounts in India. Here, I have selected the “Non-HDFC Bank Accounts in India” option.
8. Next screen, fill in the beneficiary details such as his/her name, bank account number, account type, IFSC Code, and Email ID. IFS Code only requires when you are adding a beneficiary of other banks. Click on the “Continue” tab.
9. Here, check your details and click on the “Confirm” tab.
10. Next page, confirm your mobile number to receive OTP. Click on the “Continue” button to receive OTP on your mobile number.
11. Next screen, enter the OTP and click on the “Continue” tab.
12. On successful completion, the page will inform you that the beneficiary account added successfully.
13. It will be activated after 30 minutes of adding.
14. After activation, you can send money to the newly added beneficiary account.
15. This is how to add beneficiary in HDFC mobile app.
FAQs (Frequently Asked Questions)
1. How long it will take to add beneficiary in HDFC?
The newly added beneficiary will be activated in your account after 30 minutes of adding it.
2. How much can I transfer after adding beneficiary HDFC?
a) NEFT/IMPS: You can transfer a maximum of Rs.2 lakh (in full or parts) to the newly added beneficiary in the first 24 hours.
b) RTGS: You can transfer a maximum of Rs.5 lakh (in full or parts) to the beneficiary in the first 24 hours of addition.
c) After this cooling period, the Third Party Transfer limits will apply.
3. How can I know my HDFC Bank beneficiary details?
You can view the beneficiary details in the “View Beneficiary” option of the “Enquire” section.
4. How can remove add beneficiary in HDFC?
Just click on “Funds Transfer” on the top menu. Next click on “Enquire” and then click the “View List of Beneficiaries”. Next click on the “Go” tab under the “Transaction Type”. Scroll down to the bottom of the list where you can see the “Delete” button. Click on it to delete a beneficiary.
Final Thoughts
Hope now you know how to add beneficiary in HDFC Bank to transfer money. Kindly share your experience of adding a beneficiary in HDFC account in the comments below. Also, share if you are facing any difficulty in adding a beneficiary in HDFC Netbabking.
Note: This post was originally published on May 09, 2019 and has been completely updated for accuracy and comprehensiveness.
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Excellent article!