DMT is a product where a customer / Remitter can send money using a mobile phone into a bank account after registering concerned bank account with the mobile number.
Below are the features of this product
- Any number of bank account can be added to a mobile number.
- A bank account can receive max 5 lacs in a month through DMT service.
Status of DMT transaction
- Successful – Money credit in beneficiary account successfully.
- Failed – Money failed to credit in beneficiary account, retailer need to claim refund to take balance back in his main wallet.
- Hold – Hold transactions are those which are debited from sender account but has not credit in the beneficiary account, due to different reason – receiver bank node is down, Txn timed-out at NPCI, Fluctuation in Bank nodes
- TAT for IMPS hold transaction is T+3
- TAT for NEFT hold transaction is T+1