SBI Logo

SBI Fund Transfer

SBI transfer money service can be availed by all customers of SBI. This service helps customers instantly transfer money from their SBI account to anyone in India. Using this online SBI fund transfer service you can transfer money from your account using your mobile phone and money will be deposited in beneficiary’s account in real-time.

Major advantage of online SBI fund transfer service is that you can transfer money online without writing a cheque. As money is credited in beneficiary’s bank account in real-time, you don’t have to submit the cheque to them. To use this online transfer money service please download our app and register your SBI accounts. After that you will have to generate a secure banking PIN and then using this PIN you’ll be able to transfer funds to anyone in India directly from your SBI accounts.

Another benefit of this service is that you can do instant money transfers without adding beneficiaries. All transactions performed via our app are 100% safe and secure. As soon as money transfer is done, you will receive an SMS from State Bank of India and the beneficiary will get SMS from their bank.

Features of online SBI money transfer service:
  1. Online, real-time money transfer from SBI account
  2. Fund transfer without adding or registering beneficiaries
  3. Fund transfer between your own State Bank of India accounts. You can use this feature if you have multiple accounts with the bank
  4. Transfer money between Self accounts with other banks - from your SBI account you can transfer money to your account in other banks
  5. Transfer money service works 24x7, 365 days a year
  6. Even on all Saturdays and Sundays as well as bank & public holidays you can do fund transfer
  7. All banks in India supported for money transfers
  8. Transfer limit is Rs. 1,00,000 per day from your SBI account. This is the maximum limit as set by your bank
  9. You can make up to 10 transfers per day from your account. This is the maximum limit as set by your bank
  10. Online fund transfer service is absolutely free and you don’t have to pay any fees
  11. Instant confirmation from SBI on money transfers. You’ll also get an SMS from the bank
  12. Beneficiary bank will also send SMS to the beneficiary, confirming the fund transfer
  13. BHIM UPI is used for transferring funds from your State Bank of India account to beneficiary’s bank account in real-time

Download App For

How to transfer money from SBI account online:

  1. Download Cointab app for Android or iPhone
  2. Install app using mobile number which is registered in your SBI account
  3. For bank account registration, select SBI
  4. All your SBI accounts will be registered and activated for mobile banking
  5. Generate State Bank of India banking PIN
  6. Select Transfer Money
  7. Enter beneficiary’s name
  8. Enter beneficiary’s bank account number & IFSC code
  9. Enter amount
  10. Enter your banking PIN (which you generated in the previous step)
  11. Money will be debited from your SBI account and credited in recipient’s bank account in real-time
  12. You’ll get an SMS from State Bank of India about the transaction. Recipient will also receive an SMS from their bank

Online transfer of money from your SBI account is a very simple and quick process and you can use the transfer money service whenever required. Please keep in mind that the maximum transfer limit is Rs. 1,00,000 per day and 10 transactions per day.

Online Money Transfer Service Features

Real-time fund transfer from bank account to anyone in India

SBI offers an online money transfer facility using which you can transfer money to anyone in India. Using SBI fund transfer service you can transfer money even if the beneficiary doesn’t have an account with your bank. On a real-time basis, money gets credited in beneficiary’s bank account.

Transfer funds without adding beneficiary

Online fund transfers typically require you to add and activate beneficiary and you can do money transfers only after that. But using our app you can transfer money without adding beneficiaries. You just have to specify the beneficiary’s account number and IFSC code and money will be credited in their bank account in real-time, directly from your SBI account.

Self account money transfer

Using SBI online money transfer service you can transfer money between your own accounts as well. This is a very useful service if you hold multiple accounts with the bank as at a click of a button you can do fund transfer between your own accounts. This service also works if you hold accounts with other banks - you can debit money from your State Bank of India account and credit money into any of your account with other banks.

BHIM UPI ID transfer money

Online SBI fund transfer service also allows you to transfer money to a BHIM UPI ID. This is particularly useful if the beneficiary also uses a BHIM UPI app wherein without requesting for beneficiary’s account details you can directly transfer money to their BHIM UPI ID. In such cases, money gets credited in the account which is linked with their BHIM UPI ID.

Transfer money to mobile number

Another way to transfer money is via mobile number. With the help of our app you can easily transfer money to your friends and family without requesting for their account number + IFSC code or BHIM UPI ID. When you transfer money to a mobile number, money gets credited in beneficiary’s bank account which is linked to their mobile number in our app.

Transaction limit

Online money transfer service is being offered by SBI to all its customers free of cost. You don’t have to pay any charges for using the online money transfer service and can transfer money from your bank account as and when required.

No charges for using online money transfer service

Due to some reason if you want to change your SBI BHIM PIN then you can use our mobile app for instantly changing your State Bank of India UPI PIN. Your new PIN will be immediately registered in your SBI account and you can use it for performing financial transactions.

24x7 service

Online money transfer service works 24x7 and enables you to transfer money whenever required so that you don’t have to visit the branch or ATM and can initiate fund transfer directly from your mobile. You can even do fund transfer on weekends, bank holidays and public holidays.

Benefits of online transfer money service

Time saving: By using online SBI fund transfer service instead of visiting the branch or ATM or writing a cheque you can save a lot of time as you can transfer money to beneficiary in real-time online.

Easy access: Fund transfer facility can be used anytime anywhere as it is available online 24x7, 365 days a year.

Cost saving: Online money transfer service by SBI is absolutely free for its customers and you don’t have to pay anything for using the service.

Security: All State Bank of India mobile banking transactions are 100% secure due to linking of your account on your mobile number and your banking PIN

Multi Purpose: Online transfer service by State Bank of India is a multiple purpose service wherein you can not only transfer money to beneficiary, but also recharge your mobile / DTH, pay electricity / gas / credit card bill, buy insurance, book fixed deposit, buy mutual fund, etc.

SBI Online Money Transfer security

SBI Online Fund Transfer is fully secured in following ways:

  1. UPI registration for your SBI accounts can only be done on your mobile due to linking of your mobile number with your bank account
  2. To use BHIM services, you have to create a new UPI PIN using your debit card
  3. To perform financial transactions you have to use your SBI UPI PIN. Without this PIN, no transaction will go through
  4. You can also set up app password so that no one can even open the app without knowing your app password
  5. You can also create a PIN or pattern lock for your phone so that no one can open your mobile

SBI Online Money Transfer Timing

  • You can use UPI services on all days, including Saturday and Sunday
  • BHIM can be used at night as well
  • As banking is very crucial, you can use SBI UPI facility even on bank holidays and public holidays
  • You can use BHIM services throughout the year

Eligibility conditions for using Online Money Transfer Service

For using SBI Online Transfer Money service you have to meet the following requirements

  • You must have a savings or current account with SBI
  • Your mobile number must be registered with your bank
  • You should be using either Android or iPhone mobile phone
  • You should be having an internet connection either via SIM card or WiFi

Limitations of Online Transfer Money Service

Please keep in mind the following limitations of SBI online fund transfer service:

  • It will not work if your mobile number is not registered in SBI
  • Without Android or iPhone mobile phone, it will not work
  • Without internet connection, it will not work
  • One can only transfer upto Rs. 1,00,000 per day per bank account
  • One can transfer upto 10 times per day per bank account

Download App For