SBI to other Bank fund transfer in net banking | SBI net banking other bank money transfer | transfer money from sbi account to other bank account using net banking
SBI customers can transfer money to any other bank account online using net banking after adding that bank account as a beneficiary. You can transfer up to 10 lac in a single day to other bank accounts online through net banking.
Here is step by step guide on how to transfer money using net banking to other bank accounts.
SBI Net banking – Transfer Money to Other Bank
You can transfer money from your SBI account to other bank accounts by following two steps:
- First, add beneficiary account details and activate
- After beneficiary activation, you can transfer money
So first we add beneficiary account and activate it for fund transfer.
1# Add Beneficiary Account
(1) Login to your SBI net banking account and click on Payments/Transfer and then click on Manage Beneficiary.
Enter your Profile password on the next screen.
(2) Now click on Inter-Bank Beneficiary. (Inter Bank means other Bank)
(3) And now enter the person’s name, account number, enter transfer limit, and IFSC code. Accept terms and conditions and submit.
(4) Next screen, click on Approve now.
(5) Now select Approve Beneficiary and proceed further.
(6) On the next screen, select Approve through OTP option.
(7) And finally, select added beneficiary and enter OTP which received on your registered mobile number and click on submit.
Done! you have successfully added the beneficiary account for fund transfer. And now you have to wait at least 4 hours for beneficiary activation.
You will receive an SMS that your beneficiary activated. Now you are ready to transfer money to his/her bank account.
2# Now Transfer Money
After Beneficiary activation, now you can send money to his/her bank account.
(1) Login to net banking and click on Payments/Transfer and then click on Other Bank Transfer.
(2) Now select transaction type: IMPS, NEFT or RTGS (If the amount is less than 2 lac then select IMPS, and if the amount is higher than 2 lac then select NEFT or RTGS). Here I have selected IMPS.
(3) If you selected IMPS, on next screen select Person to Account (using IFS code) & proceed.
(4) And finally, select your SBI account number, enter the amount, select added beneficiary account and click on submit.
(5) Next screen, confirm your transaction.
You will receive OTP on your mobile number, enter the OTP and complete the transaction.
Done! money successfully transferred to the beneficiary account number. We have transferred the amount using IMPS, so money will be credited to beneficiary account instantly.
I hope you now understand how to transfer money from your SBI account to other bank account using SBI net baking. First, add other bank accounts as beneficiary and then initiate fund transfer.
And now you can install SBI Mobile Banking application on your phone and transfer money to any bank account directly through the mobile phone.