Here you will come to know about the money transfer process in SBI internet banking. Go through the content till the end.
What is the mandatory information required to make a State Bank Group Transfer payment?
The Remitter has to provide the following details:
- Amount to be remitted
- Account number which is to be debeted.
- Name of the beneficiary
- Account number of the beneficiary
- Address of the beneficiary
- Remarks or description if any
- The IFSC code of the beneficiary branch
– How do I find the IFSC code of the beneficiary branch?
You can find the IFSC code through a simple search location- by Location, Bank & Branch. The IFSC code will automatically be populated in the beneficiary addition form. If you know the IFSC code of the beneficiary bank, you can provide it directly.
-Do all bank branches in India provide State Bank Group Transfer service?
No. State Bank Group Tansfer facility is enabled only in state Bank branches across India.
-What are the service charges applicable for State Bank Group Transfer Transcation?
No charges for State Bank Group Transfer transactions.
-How do I go about using the State Bank Group Transfer service ?
- You should be an active internet banking user with transaction rights.
- Log on to https://www.onlinesbi.com/corperate/sbi_home.html using you internet Banking ID and Password.
- Click on the ‘ Manage Beneficiary ‘ link in the ‘Profile’ tab
- Select State Bank Group Beneficiary ‘.
- Select the add option.
- To register the beneficiary,provide the Beneficiary Name,Beneficiary Account Number, Beneficiary Bank Beneficiary Address and funds transfer limit.
- You can provide the IFSC code of the Beneficiary bank in two ways:
- If you know the IFSC code of the beneficiary branch, click the IFSC Code option. A textboxis displayed where you can enter the 11 digit IFSC code of the Beneficiary Bank.
- If you do not know the IFSC code, click the elements.
- Location-Dropdown Menu
- Branch- Dropdown Menu
Enter the IFSC code or select the bank/location branch to populate the IFSC code automatically.
- Select the checkbox in the Term s and conditions link.
- The submit button will be enable only after you accept the terms and condtions.
- After providing all the details, the beneficiary will be added.
- You will receive a high security passwordyour mobile number. This is done basically to double checki yu identity. Provide the password to approve the Beneficiary. After a beneficiary is approved you can start transferring funds.
- You can proceed to make payments/Transfers’ tal.
- Select the Beneficiary from the list of registered Beneficiaries.
- Enter the amount and remarks for the transaction.
- You can either make a payment on on the current date, or schedule the transaction for a future date.
- Please note that a transaction cannot be scheduled later than 90 days from the current date.
- Also, if the transaction scheduled date is of a State Bank Group Transfer holiday, the same will be scheduled for next transaction date.
- You can confirm or cancel the transaction.
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