Is money deducted with IMPS error 55?

Possibly. In IMPS your bank debits you and then sends the transfer on, so a failure on the receiver's side can leave a debit that has to be reversed. If you were debited, the reversal is automatic and due by the next working day (T+1). After that the bank owes you ₹100 a day.

IMPS error codes / 55

IMPS response code

IMPS error 55: High severity memo on the account

Bank descriptionHigh Severity Memo (HSM) Present On The Account FAILED

Source: Axis Bank, IMPS Response Codes for H2H/API. These are IMPS response codes as one bank publishes them; other banks use the same codes but may word them differently.

What it means

The account has a high severity memo (HSM) on it: a flag the bank has placed that stops this transaction. Axis Bank's guidance is not to re-initiate with the same CRN.

Not fully documented: The source doesn't say what kind of memo it is; only the bank can.

Was money deducted?

Possibly. In IMPS your bank debits you and then sends the transfer on, so a failure on the receiver's side can leave a debit that has to be reversed.

When does the money come back?

If you were debited, the reversal is automatic and due by the next working day (T+1). After that the bank owes you ₹100 a day.

Which side caused it?

Bank holding the flagged account.

Bank guidance on retrying

Do not reinitiate with same CRN

If money left your account. Under RBI's turnaround-time rules (circular DPSS.CO.PD No.629/02.01.014/2019-20, 20 September 2019), if your account is debited but the receiver isn't credited on an IMPS transfer, the receiver's bank has until the next working day (T+1) to credit it or send the money back. After that the bank owes you ₹100 for every day of delay.

What you should do

If it's your account, contact your bank to find out what the flag is. If it's the receiver's, ask them to check.

If you run payouts or a bank integration

Don't re-initiate with the same CRN. The account holder has to resolve the flag with their bank.

IMPS error 55 kya hai?

IMPS 55 ka matlab hai account par bank ne high severity flag lagaya hai.

IMPS in brief

IMPS moves money between banks instantly, at any hour, on any day. Transfers go either by account number and IFSC, or by mobile number and MMID. The network limit is ₹5 lakh per transaction, though your bank can set a lower one, which is why codes like 04 and 22 exist.

Checking what happened

Open the transaction in your bank app or net banking and note its RRN, the 12-digit reference number also sent by SMS. The receiver's bank can trace the transfer with it, and you'll need it for any complaint. If the status says pending or deemed approved, wait for the final status before sending the money again.

If it still isn't sorted

Raise a complaint inside your banking app. Quote the RRN from your statement or SMS.
If the app doesn't resolve it, contact your bank's grievance desk with the same reference.
If your bank hasn't replied within 30 days, or you're not happy with the reply, complain to the RBI Ombudsman at cms.rbi.org.in. It's free.

See all 87 IMPS codes →