Today we will share the step by step process, how to add beneficiary in Bank of baroda for money transfer using net banking and mobile banking.
Nowadays, most of the people use UPI for money transfers but if you are sending money to any person through mobile banking and net banking then first you have to add that person as a beneficiary.
After adding a receiver bank account as a beneficiary, you can transfer money to his/her account online from your mobile banking and net banking account using IMPS, NEFT and RTGS.
So here are two ways to add beneficiary in Bank of Baroda.
Add Beneficiary in Bank of Baroda through Mobile Banking
If you are using Bank of Baroda mobile banking for money transfer then first you need to add the receiver’s bank account as a beneficiary, here is the process:
(1) Login to Bank of Baroda Mobile Banking and click on the “Transfers”
(2) Next screen hit the (+) button and select “Beneficiary Management”
(3) Next screen tap on the (+) button and select the “NEFT/IMPS P2A” option.
(4) Now add the receiver’s bank account details like his/her bank name, nickname, bank account number, account type (savings), and IFSC code & proceed.
(5) Next screen confirm these details and submit.
(6) In the last step, enter the OTP sent to your registered mobile number and transaction PIN and hit the okay button.
That’s it, you have successfully added the beneficiary account and it will be activated after 4 hours. After that, you can transfer money to the added beneficiary account through IMPS and NEFT.
Add Beneficiary using Bank of Baroda Net Banking
If you are using Bank of Baroda internet banking for money transfer then first you need to add the receiver’s bank account as a beneficiary and after that, you can transfer money to his/her bank account.
(1) Login to Bank of Baroda net banking and select the “Transfers” option. Now click on “Initiate Payments“. If you are sending money to another Bank of Baroda account then select the “Within Bank Transfer” option & if the beneficiary account is from another bank then select “Outside Bank Transfer”
(2) Next screen hit the “Add New Beneficiary” button to add a beneficiary bank account.
(3) Next screen add beneficiary bank account details like his name, nickname, bank account number, account type, and IFSC code. You can also set the limit for this beneficiary. Enter the IFSC code and click on the Look up button. If the beneficiary branch details are correct then submit.
(4) Next screen you can see the preview of the added beneficiary account details. If details are correct, enter the OTP sent to your registered mobile number and transaction password and submit.
Ok, All Done! the beneficiary account has been successfully added and it will be activated after 24 hours then you will be able to transfer money to the added beneficiary account.