What Is Beneficiary ID? – Meaning in Banking (2026)
A Beneficiary ID is a unique identification name or number created in your net banking or mobile banking to save the details of a person or account you want to send money to.
Quick Summary
- Used in: Net banking & mobile banking
- Purpose: Identify a saved payee/receiver
- Created by: Account holder (you)
- Mandatory: For adding beneficiaries online
What Does Beneficiary ID Mean?
When you add a new payee (beneficiary) in internet banking, the system asks you to assign a Beneficiary ID. This ID helps you easily recognise and select that person for future transfers.
It can be:
- A name (like Rent2026 or MomSavings)
- A short code or nickname
It is not a bank-issued number like IFSC or account number.
Where Is Beneficiary ID Used?
Beneficiary ID is used in:
- NEFT transfers
- RTGS transfers
- IMPS transfers
- Scheduled or recurring payments
Example of Beneficiary ID
If you add your landlord as a beneficiary:
- Beneficiary Name: Ramesh Kumar
- Account No: XXXXXXXXXX
- IFSC: ABCD0123456
- Beneficiary ID: HouseRent
Next time, you just select HouseRent to transfer money.
Is Beneficiary ID Same as Account Number?
No.
| Feature | Beneficiary ID | Account Number |
|---|---|---|
| Purpose | Identification label | Actual bank account |
| Created by | Customer | Bank |
| Used for | Selecting beneficiary | Sending money |
| Shared with others | Not required | Yes (to receive money) |
Common Confusion
- Beneficiary ID ≠ UPI ID
- Beneficiary ID ≠ MMID
- Beneficiary ID ≠ Customer ID
It is simply a reference name inside your banking app.
FAQs
Q. Is Beneficiary ID mandatory?
A. Yes, when adding a beneficiary in most banks.
Q. Can two beneficiaries have the same ID?
A. Usually no. Each Beneficiary ID must be unique in your account.
Q. Can I change Beneficiary ID later?
A. Yes, most banks allow editing or deleting beneficiaries.
Security Tips
- Add beneficiaries only from your own device
- Verify account number and IFSC carefully
- Avoid generic IDs to prevent confusion
Conclusion
A Beneficiary ID is a user-created identifier used to save and recognise a payee in net or mobile banking. It makes fund transfers faster, safer, and more convenient by helping you select the correct beneficiary every time.
