Given below are the differences between the transactions.

What difference between imps and neft. IMPS stands for Immediate Payment Service. It is the fastest mode of transfer and can be done even on holidays. IMPS and NEFT payment modes are both available 24x7.

The IMPS was launched in 2010 while NEFT was brought forth in the year 2005. However as mentioned earlier both services. Difference Between IMPS and NEFT 1.

The type of transaction depends on the amount and urgency of the transaction. IMPS stands for Immediate Payment Service It is an inter-bank electronic and instant money transfer service that can be availed on mobile phones. Difference Between NEFT RTGS IMPS.

NEFT stands for National Electronic Fund Transfer. In NEFT settlements transactions are settled in batches during specific timings. Difference between NEFT and IMPS.

No requirement of physical cheque or demand drafts. Advantage of NEFT RGTS and IMPS. IMPS and NEFT are available 24x7 while RTGS operates only during banking hours.

NEFT stands for National Electronic Fund Transfer. Type of Settlement Money transferred through NEFT is done at half-hour intervals while transfers via RTGS and IMPS are done in real-time. The limit will be different for different payment methods.