The State Bank of India has introduced a new feature in its website to transfer money quickly. The online SBI quick transfer procedure is simple and easy. You will find the SBI quick transfer under the section Payments/transfers section of the website as soon as you log in. Earlier a beneficiary has to be added and you have to wait for 6 to 8 hours or sometimes a day for the registration of the beneficiary. The SBI quick transfer procedure does not require any waiting for the adding of the beneficiary or registration. The quick money transfer process is similar for both SBI to SBI and from SBI to another bank. It is a convenient and safe way of sending money. Through online SBI quick transfer, the maximum amount that can be sent in a day is 5000 INR. This is the limit set by the SBI. The SBI quick transfer charges are that of NEFT (National Electronic Fund Transfer).
Online SBI Quick Transfer process
You can send money using the SBI quick transfer online to your friends and family. Though the amount is limited to only 5000, avail this feature whenever you need to remit money quickly. SBI quick transfer procedure is explained in the following steps.
- The first step of online SBI quick transfer process is to get into your account by logging into your online SBI account using your username and password.
- After logging in you have press the Payment/transfers tab
- In the Payment/transfers section of the SBI website, you will find the option “quick transfer” to send money online in the third column of the table titled other Payment/receipts.
- Now, you are on the page, which asks information of the beneficiary or the receiver. Fill in the details. The details that have to be filled are Name of the beneficiary, Account Number of the beneficiary. After filling this, you need to choose one of the SBI quick transfer online Payment options. One is “Within SBI” and the other is “Interbank”. You may choose according to the bank a/c you need to send money. If it is another bank account then you need to choose Interbank and if you are sending money to SBI account you may do otherwise. Then fill in the IFSC code of the bank where your beneficiary is holding the account. This must be collected before filling in the details. Now select the transfer mode to NEFT from the pull-down menu. Next, type the amount, it must not exceed Rs 5000. Select the Purpose
- Confirm all your keyboarded information and tick the small box, which has the line, “I accept the terms and conditions”. After pressing submit, the next page will contain all the information you entered just check it and click confirm.
- On clicking “confirm “, you will receive an OTP in your mobile number that you have registered with the bank account.
- Now, you will see that the page for entering the OTP is on your screen, put the OTP. It is a High-Security Password. If you do not receive the OTP as SMS then you have a button on this page to resend it. Enter the password and confirm it.
- You will see a message that the transaction has been successful. You will also find a reference number, which you need to note down in your notepad. It may come handy in the future.