MMID — Mobile Money Identifier
Also written MMID · Mobile Money Identifier
A 7-digit number a bank issues to its customer, needed — along with a mobile number — to receive money through IMPS mobile banking.
In plain language
Sending money by phone through IMPS needs one extra piece of information beyond an account number, and that is the MMID.
The workbook is precise about what it is: for fund transfer through mobile banking, the beneficiary's MMID — Mobile Money Identifier — is needed, and it describes MMID as a 7 digit number issued by bank to the customer.
It exists alongside the account number and mobile number as one more identifier the mobile-banking system uses to route a transfer safely to the right account.
How it works
The workbook sets MMID apart from the IFSC-based route used for NEFT, RTGS and internet-banking IMPS. Where those use the beneficiary's account number and IFSC Code, mobile banking through IMPS instead uses the beneficiary's mobile number together with the 7-digit MMID the bank has issued to them.
MMID is bank-issued, not self-generated, and the workbook gives no fee or validity period for it in this booklet — only its length and its purpose in a mobile IMPS transfer.
A worked example
Anjali wants to send Rs 15,000 to her brother instantly using her mobile banking app.
Because she is transferring through IMPS on her phone rather than through internet banking, she needs his registered mobile number and his 7-digit MMID, which his bank had issued to him when he registered for mobile banking — his account number and IFSC Code alone are not what this particular route uses.
He reads out both from a text message his bank had sent him earlier, Anjali enters them into her app, and the Rs 15,000 reaches his account within minutes.
Why NISM asks about it
Chapter 4 (Savings Related Products), in its table of digital fund-transfer modes, defines MMID specifically under IMPS through mobile banking, distinct from the account-number-and-IFSC route used elsewhere in the same table. Expect a question testing the digit count — 7 — and which transfer mode uses MMID.
Common exam traps
- MMID is 7 digits, bank-issued — not chosen by the customer and not the same as an account number.
- MMID is needed for IMPS through mobile banking specifically — IMPS through internet banking, like NEFT and RTGS, instead uses the account number and IFSC Code.
- Do not confuse MMID with a UPI Virtual Payment Address (VPA) — the workbook treats UPI as a separate transfer mode with its own identifier.
Where this is taught
Free preparation for NISM Series SEBI-ICERelated terms
- Indian Financial System CodeA unique code assigned to each bank branch in India, used together with the beneficiary's account number to route NEFT, RTGS and IMPS internet-banking transfers to the correct branch.
- Unified Payment InterfaceInstant 24x7 money transfer from a smartphone using a Virtual Payment Address. It can also block money for an IPO application, up to Rs 2 lakh per transaction in the booklet.