Online transferring money utilizing internet banking of State bank of India(SBI)account is a 2 stage process.
Fist you have to add the beneficiary account whom you are going to send money and then second step is transferring money to beneficiary account .
Adding beneficiary is the first step that takes some time after it is added you can send money as many times you want.
Step 1. Adding new Intrabank Beneficiary
First sign in to your SBIaccount . Online SBI is the internet banking website of sbi where you have to login first.
Now go to ‘Manage Beneficiary’.
Then you have enter your profile password which is different from your main login password.
Note: you must know your profile password and remember it because without that you can not add any beneficiary into your account.
Now Click on ‘Intra-bank Beneficiary’ option because receiver(ie beneficiary) whom you are sending money is having account in SBI bank .
Enter beneficiary account details and the payment limit as it is visible in the form available to you . Here payment limit is the money amount which is max you can send and transfer in to beneficiary account.
After you have added the beneficiary, details now you have to approve him. To do this, click on the ‘Approve Now’ button that appears.
Select ‘Approve Beneficiary’ to approve the newly added beneficiary.
After that you have to Select ‘Approve through OTP’ option.
After selecting that option you’ll receive an OTP code on your registered mobile number with that account you are a trying to transfer money. Then Enter the sent code to complete process of adding beneficiary to your SBI net banking account.
Step 2. Transfer money to the added beneficiary account
As you have successfully added the beneficiary into your online sbi account , follow belo process to transfer money.
Again Login to OnlineSBI and go to ‘Payments/Transfers’ section.
Then you have to Select the ‘Accounts of Others’ under ‘Within SBI’ option to see a list of all the SBI beneficiaries you have added in your account.
Select account, enter the amount and remarks to remember the transaction. This remark would show in the mini-statement of yours and the beneficiary. Click ‘Submit’ to initiate funds transfer.
Now the final step and click ‘confirm’ to send money.
A confirmation message will show up and that’s it . You have successfully transferred money to your beneficiary account.
So if you have any query or suggestion mention in the comment section. Share and subscribe for more information on money transfer.