State Bank of India(SBI) is providing online money transfer services in which you do not have to add a beneficiary to send money. In fact, you can send them without adding. this facility is termed as SBI Quick Transfer.
However, this service is available to customers having both internet banking & mobile banking access. The bank has set some limits for this transfer. We will cover this interesting topic in detail in this article.
Let’s discuss how you can use SBI quick transfer service to transfer money from your account to another without adding a beneficiary.
How to do Quick Transfer in SBI Through Net Banking
Customers of SBI having access to internet banking can transfer funds online without adding beneficiaries using this service. you just have to follow the few simple steps mentioned below to transfer funds quickly.
- Log in to your SBI Internet Banking account.
- On the Dashboard click on the Payments/Transfers tab and select Quick Transfer(Without Adding Beneficiary).
- On the next window Enter the details like beneficiary name, account number, payment option, IFSC code, transfer mode, amount, purpose, and click on the Submit button. make sure to check the box I accept the Terms & Conditions.
- Once again verify the entered details and click on Confirm button.
- Now enter a high-security password sent to your registered mobile number with SBI in order to complete the transaction.
- The amount will be transferred to the entered beneficiary account and you will get a transaction ID for reference.
How to do Quick Transfer Money in SBI through YONO LITE SBI App
SBI Account holders can also use this app to transfer funds quickly using the service SBI Quick transfer. for this, you need to follow the steps mentioned below.
- Download YONO LITE App in your smartphone or IPhone.
- Log in using your User Name and Password.
- On the Dashboard click on Fund Transfer tab.
- Now select Quick Transfer & Donations.
- On the next screen select Send Money using Account Details.
- Now Enter the details such as Account Number, Beneficiary name, IFSC code, etc., and click on the Submit button.
- The amount will be transferred to the beneficiary account.
In case if you want to receive the money follow the below process.
- Either you can share your account details to the sender or QR code.
- If the QR code is not generated before, the new QR code can be generated using your account details.
- Click on Generate QR for Receive Money
- Now Click on Create QR.
- Select Credit to Account as a New account, Fill in all the details, and click on Generate QR. After generating the QR code click on the Share QR image to the sender in order to receive money.
Following the above process, you can easily transfer funds to any other account.
SBI Quick transfer Limit
You can transfer up to Rs.10000 at a time using this service with a daily transfer limit of Rs. 25000. In simple terms, it means you can transfer a total of Rs 25000 in a day but at a time only Rs. 10000 is transferrable.
SBI Quick transfer Charges
There are no charges if the beneficiary account is maintained with SBI. however if it’s other than SBI the charges will be like this.
|Mode of transaction||Transaction Amount||Charges|
|IMPS||Up to Rs. 1000/||Nil|
|IMPS||Rs .1001 to Rs.10000/||Rs.1+ GST|
|NEFT||Up to Rs.10000/||Rs.1+GST|
SBI Quick transfer timings
we can transfer funds using this service through IMPS and NEFT. If you select IMPS, the amount will get transferred the same day as IMPS provides service 24*7*365. if you select NEFT it will be transferred on the same day or early the next day.
We have learned how to use the facility of SBI Quick transfer provided by SBI. follow the above steps and transfer funds immediately.
1.What is the SBI Quick transfer limit per day?
You can transfer a maximum of up to Rs. 25000/ in a day.
2. If the transfer of funds failed when I will get a Refund?
Refunds for the failed transactions done through IMPS or NEFT will be returned to the customer account on the next working day.
3. Using SBI Quick transfer service can I transfer the amount to another bank as well?
yes, you can transfer funds to both SBI and non-SBI banks.