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SBI Quick Transfer

SBI Quick Transfer

SBI allows its customers to transfer funds from one account to the other (both within SBI and other banks) with the help of Quick Transfer. This method of SBI Fund transfer has the added advantage of instant money transfer without any requirement of adding a beneficiary to the bank account. This service can be availed by both net banking and mobile banking customers. With the help of net banking customers can transfer funds via NEFT and IMPS. Mobile banking users can transfer funds with the help of IMPS only with no requirement of paying a fee of up to INR 1000 to transfer funds.

Features of SBI Instant Money Transfer


Mentioned below are the features of instant money transfer:

  • The funds can be transferred to anyone anywhere and at any time.
  • For transferring funds, only the beneficiary’s mobile number, name, and address are required.
  • Once the sender registers the beneficiary’s details in the system, he is not required to provide the name and address for the recurring payments.
  • The beneficiary can withdraw money from select State Bank Group ATMs, to begin with non-usage of a Debit Card.
  • An IMT once created cannot be cancelled.
  • The beneficiary has to withdraw the whole amount in a single transaction, i.e. no partial withdrawals are allowed at present.

SBI Quick Transfer Charges

An account holder is required to pay a nominal fee to make transactions via Quick Transfer. Let us consider the charges for each kind of transaction:

Mentioned below are the SBI Quick Transfer Charges;

Mode of TransactionTransaction AmountService Charge
NEFTUp to ₹ 10,000/-₹ 1 + GST
IMPSUp to ₹ 1,000/-Nil
IMPS₹ 1,001/- to ₹ 10,000/-₹ 1 + GST

Mentioned below are the SBI RTGS Charges:

Transaction AmountSBI RTGS Charges
INR 2 lakhs – INR 5 lakhsINR 20 + GST
More than INR 5 lakhsINR 40 + GST

 

Mentioned below are the SBI NEFT Charges:

Transaction AmountNEFT Charges for BranchNEFT Charges for Net Banking
Up to INR 10,000INR 2.00+ GSTNIL
Up to INR 10,001 to INR 1 lakhINR 4.00+ GSTNIL
Above INR 1 lakh up to INR 2 lakhINR 12.00+ GSTNIL
Above INR 2 lakhINR 20.00+ GSTNIL

Mentioned below are the SBI IMPS Charges for remitting money:

Amount SlabProposed IMPS ChargesCommission Amount debited from customer + GST
INR. 1 - 5,00,000NILNo Charges

How to Quick Transfer in SBI through Anywhere App

Accountholders can carry out the below-mentioned transactions via the SBI Quick Transfer service in the Anywhere app:

  • Send Money
  • Receive Money
  • Donations

Follow below mentioned steps in case you want to transfer funds to a beneficiary:

Step 1: Open the SBI Anywhere personal app and log into the account.

Step 2: Select “Quick Transfer & Donations” option.

Step 3: Click on “Send Money”.

Step 4: Select the “Debit Account” from which the amount is to be transferred.

Step 5: Choose whether the amount is to be paid via QR Code or using the account details.

Step 6: Enter the details and click on “Submit”.

Step 7: The amount will then be transferred to the beneficiary’s account.

Follow below mentioned steps in case you want to receive funds from the remitter:

Step 1: Share your account details or QR Code with the remitter.

Step 2: If the QR Code has not been generated previously, in that case, a new QR code may be generated using account details.

Step 3: Click on the share QR to share the encrypted account details with the remitter.

Step 4: Also, the account details can also be shared using the other alternatives as well.

Limit for Quick Transfer/ RTGS/ NEFT

Mentioned below is the limit for funds transfer via SBI Quick Transfer:

SBI Quick Transfer Limit
Mode of TransactionLimit per transactionLimit per day
MinimumMaximumMinimumMaximum
SBI Net Banking₹ 1/-₹ 10,000/-₹ 1/-₹ 10,000/-
SBI Mobile Banking₹ 1/-₹ 10,000/-₹ 1/-₹ 25,000/-

Mentioned below is the limit for funds transfer via SBI RTGS/ NEFT:

Minimum / Maximum amount for RTGS / NEFT transactions under Retail Internet Banking
TypeMinimumMaximum
RTGSINR 2 LakhsINR 10 Lakhs
NEFTNo MinimumINR 10 Lakhs

 

Minimum / Maximum amount for RTGS / NEFT transactions under Corporate Internet Banking
TypeMinimumMaximum(per transaction)Maximum(per day)
RTGSINR 2 LakhsSaral – INR 10 Lakhs

Vyapaar – INR 50 Lakhs

Vistaar – INR 2000 Crores

Saral – INR 10 Lakhs

Vyapaar - No Limit

Vistaar - No Limit

NEFTNo MinimumSaral – INR 10 Lakhs

Vyapaar – INR 50 Lakhs

Vistaar – INR 2000 Crores

Saral – INR 10 Lakhs

Vyapaar - No Limit

Vistaar - No Limi

How to Use SBI Quick Transfer via Net Banking:

With the help of Internet Banking, customers can transfer their funds using Quick Transfer without adding a beneficiary. Mentioned below are the steps to transfer funds via Quick Transfer without adding a beneficiary:

Step 1: Log in to the SBI Internet Banking account.

Step 2: Click on “Quick Transfer (Without Adding Beneficiary)” in the “Payments/ Transfers”.

Step 3: Choose the bank account from which the amount will be deducted.

Step 4: Enter the details required like beneficiary name, account number payment option, IFSC Code, transfer mode, amount, and purpose.

Step 5: Click on “Submit”.

Step 6: Verify the details entered and click on “Confirm”.

Step 7: Enter the password sent to the registered mobile number to complete the transaction.

Step 8: The amount will then be transferred to the bank account of the beneficiary.

Step 9: A transaction ID will be received that can be used to check the status of the transaction.

To Whom Funds can be transferred?

The funds via SBI Quick Transfer can be transferred to:

  1. Own account,
  2. Third-party account held in the State Bank of India.
  • Third-party accounts held in any other Banks apart from the State Bank of India
  1. To other bank accounts, you can transfer funds using IMPS, NEFT, and RTGS. The mode of transfer is intelligently selected by YONO based on the amount, time of transfer, and type of beneficiary.
  2. You can also do UPI transactions in YONO.

Customer Care

To report any unauthorized transaction, raise any query, or make a complaint, customers can connect with the HDFC customer care number without even bothering about the SBI Bank Timings as it is available 24*7 to the customers. The SBI toll-free number is 18001234, 18002100, 1800112211, 18004253800.

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