How to Transfer Money From One Debit Card to Another in India (2026)

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If you have ever tried to send money to someone and thought “I will just transfer it from my debit card to their debit card”, you are not alone. It is one of the most searched money questions in India. It is also based on a misunderstanding that is worth clearing up, because it is the same misunderstanding that fraudsters rely on.

Here is the honest version: in India you cannot really transfer money from one debit card to another. A debit card is not a wallet that holds money. It is a plastic key to a bank account. Money always moves from one bank account to another bank account. The card is just one of several ways to unlock that.

The good news is that the actual methods are free for most people, instant, and genuinely easy. This guide explains what they are, which one to use when, and the one request you should never say yes to.

First, the security point — because it matters most

If somebody asks for your card number, expiry date, CVV or an OTP so that they can “send you money”, it is a scam. Full stop. There is no situation in which a person needs your CVV or an OTP to give you money.

To receive money, all anyone ever needs from you is your UPI ID, or your account number plus IFSC code. Nothing else. Those details are safe to share — they are on the front page of your passbook. Your CVV and OTP are not.

This one habit will protect you from a large share of the payment frauds reported in India every year. If a call, message or “customer care” number pushes you toward sharing an OTP, end the conversation.

So how does money actually move in India?

There are four systems. You have almost certainly used at least one without knowing its name.

MethodSpeedTypical limitCost to youBest for
UPIInstant, 24×7Around 1 lakh a day for most peopleFreeAlmost everything day to day
IMPSInstant, 24×7Up to 5 lakh a dayOften free online, some banks charge above a thresholdLarger amounts, or when UPI is not an option
NEFTUsually within a couple of hoursNo upper limit set by RBIFree online from a savings accountNon-urgent transfers
RTGSNear real timeMinimum 2 lakh, no upper limitFree online from a savings accountLarge one-off payments

For nearly everyone reading this, the answer is UPI. It is instant, it works on holidays and at 2am, and the Reserve Bank has kept it free for customers. The other three exist for the cases UPI does not cover well.

UPI — the default answer

Open any UPI app linked to your bank account, enter the other person’s UPI ID or scan their QR code, type the amount, enter your UPI PIN. Done in about fifteen seconds.

A few limits worth knowing. The standard cap set by NPCI is around 1 lakh per day, though your own bank may set something lower, and many banks also cap you at roughly twenty transactions a day. Certain categories have been given much higher headroom — payments to verified capital markets and insurance entities can go up to 5 lakh per transaction, and verified education and healthcare institutions up to 10 lakh a day. And if you have just created a UPI ID, expect a cooling-off cap of about 5,000 for the first 24 hours. That is a fraud control, not a fault.

IMPS — when the amount is bigger

IMPS is the older instant-transfer rail, and it still handles up to 5 lakh a day, which is well beyond what UPI allows most individuals. It works round the clock including bank holidays. You need the recipient’s account number and IFSC.

Charges vary. Many banks have made online IMPS free, but some apply a small fee above a threshold — SBI, for example, revised its structure in February 2026 so that online IMPS stays free up to 25,000 with a nominal charge above that. Check your own bank’s current schedule rather than assuming; these change more often than you would expect.

NEFT and RTGS — the unglamorous ones

NEFT is now available around the clock and settles in batches, so it usually lands within a couple of hours rather than instantly. The RBI has directed banks not to charge savings account holders for online NEFT, so it costs you nothing. There is no upper limit.

RTGS is built for large sums — the minimum is 2 lakh, there is no maximum, and settlement is near real time. If you are paying a builder, a hospital, or making a property-related payment, this is the one.

What about “card to card transfer” at an ATM?

This is the bit people actually mean when they search for it. Some banks did offer a card-to-card transfer option at their ATMs, where you insert your card, choose fund transfer, and enter the recipient’s card number.

Two honest caveats. First, availability has narrowed considerably — many banks have withdrawn or restricted the feature as UPI took over, so do not count on finding it. Second, where it does still exist the limits are small, far below what you can do from your phone in a few seconds. Check your own bank’s ATM services page or ask at a branch before you plan around it.

In practice, if you are standing at an ATM wanting to send money, it is faster to open your UPI app.

What you need from the person receiving the money

  • For UPI: their UPI ID (something like name@bank) or a QR code.
  • For IMPS, NEFT or RTGS: their full name as per the bank, account number, and IFSC code.
  • Never: their card number, CVV, PIN or an OTP. You do not need any of it, and neither do they.

Add the payee once and it is saved for next time. Some banks still impose a short cooling-off period on a newly added payee before large transfers are allowed — again, a fraud control rather than a problem.

If the money goes to the wrong account

Act quickly and be realistic. Once a transfer has settled, the money is legally in someone else’s account and your bank cannot simply pull it back without that person’s consent.

What you should do: raise a complaint with your bank in writing the same day, quoting the transaction reference number. The bank can contact the receiving bank and request a reversal, but the outcome depends on the other account holder agreeing. If your bank does not resolve it within 30 days you can escalate to the RBI Ombudsman scheme, free of charge.

This is exactly why it is worth sending 1 rupee first when you are paying a new person a large amount. Fifteen seconds of caution beats weeks of follow-up.

A better question than “how do I transfer this money?”

If you have found this page, the transfer itself is about to be solved. The more useful question is where the money sits when it is not moving.

Cash lying idle in a savings account earns very little, and most people keep far more there than they need to. Once you have a working current-month buffer and a proper cushion for emergencies, anything above that is usually better off working somewhere else. Our guides on choosing a savings account and building an emergency fund cover how to size that, and how to start a SIP covers the step after.

If you would rather see the whole picture in one place, the Finostock Money Toolkit lists the accounts, cards and tools we think are worth a beginner’s time, with the honest caveats attached.

The short version

  • You cannot move money card to card. Money moves account to account.
  • Use UPI unless the amount is above your daily cap.
  • Above that, use IMPS up to 5 lakh, or RTGS for 2 lakh and above.
  • All of these are free or near-free for an ordinary savings account holder.
  • To receive money you share a UPI ID or an account number and IFSC — never a CVV, PIN or OTP.
  • Send 1 rupee first when paying someone new a large sum.

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Disclaimer: Finostock provides general financial education only. We are not a SEBI-registered investment adviser and nothing here is personalised financial advice. Transfer limits and charges are set by your bank and by NPCI and RBI rules, and they change — always confirm the current limits and fees with your own bank before making a large transfer.

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