When you transfer money online from your Canara Bank account to other bank accounts through net banking and mobile banking then first you need to add the receiver bank account as a beneficiary and after adding the receiver account as a beneficiary, you will be able to transfer money online.
Adding beneficiary means, you need to register the receiver bank account as a beneficiary. You need to enter his/her account number, name, and IFSC code during adding the beneficiary process.
Without adding a beneficiary, you can not transfer money to other bank accounts. So here we will tell you the step by step process, how to add beneficiary in the Canara Bank account.
When you transfer money through IMPS, NEFT and RTGS, you need to add beneficiary account first.
1. Add Beneficiary using Canara Mobile Banking
If you are using Canara Mobile Banking for banking services then you can easily add beneficiary for fund transfer.
Login to Canara Mobile Banking & tap on the Manage Beneficiary section.
In Manage Beneficiary, you can see two options.
- Within Canara Bank – You can select this option when you add another Canara Bank account as a beneficiary. (Canara To Canara Bank)
- IMPS -Other Bank – If you are going to add other bank accounts (except Canara bank) the select this option. (Canara To Other Bank)
1. Within Canara Bank
Tap on Add Beneficiary.
Next screen enter account holder name, account number, and nickname and add. You don’t need to add IFSC code when you add within Canara bank account as a beneficiary.
2. IMPS – Other Bank
If you are going to add another bank account then select IMPS – Other Bank and tap on Add Beneficiary.
Select Account + IFSC option.
Now enter the beneficiary name, account number, and IFSC code and add this account as a beneficiary. When you add other bank accounts then you need to enter IFSC code as well.
That’s it, you have successfully added beneficiary for fund transfer and now you can transfer money to his/her account through mobile banking.
2. Add Beneficiary using Canara Net Banking
If you have Canara net banking then you can also add beneficiary by login to Canara net banking.
Login to Canara Internet banking.
After login, now click on Fund Transfer – BENEFICIARY MAINTENANCE – Add Beneficiary.
- In the Add beneficiary, select Within Canara Bank when the receiver account in Canara bank and select Transfer to Other Bank (NEFT/IMPS/RTGS) when the receiver holds an account in other banks.
Add beneficiary Within Canara Bank
When you transfer money Canara to Canara the select Within Canara. Enter the account holder’s name, account number, and click on Add.
Add Beneficiary – Other Bank
If you are sending money to other bank accounts then select Transfer to Other Bank (NEFT/IMPS/RTGS).
Enter account holder name, account number, search IFSC code, and click on Add button.
Next screen enter One Time Password and transaction password to confirm your request.
That’s it, you have successfully added beneficiary in Canara Bank for fund transfer and now you can send money to his/her bank account.
So this way Canara Bank customers can add beneficiary using net banking and mobile banking for money transfer.