State Bank of India is one of India’s leading government banks, offering its customers many online services for convenient usage. One such service is transferring money to another account through NEFT (National Electronic Fund Transfer). To transfer money to another person through NEFT, you must add a beneficiary to your account.
So, follow the below procedures to add beneficiaries to your SBI account very simply through mobile and net banking.
Required Details to Add Beneficiary in SBI Bank
- Account number of the beneficiary.
- Bank Name of the Beneficiary.
- Bank IFSC Code of the beneficiary.
- Type of account.
- The bank-registered mobile number (You will receive OTP when adding the beneficiary).
Procedure to Add Beneficiary through SBI Online Banking
- Just go to the given link “https://retail.onlinesbi.com/retail/login.htm” and then click on “Continue login“.
- Log into your SBI Internet Banking accounts to add beneficiaries using your bank credentials.
- After a successful login, click on “Payments/Transfer” at the top left of the screen and select the “Add & Manage Beneficiary” option.
- Now you need to enter the SBI profile password to access the secured option. Note: the profile password is different from your internet banking password.
- After successful login, you will be redirected to a page where you must choose a beneficiary type, like another bank or the same bank, and choose the option based on the beneficiary bank.
- Now, click the “ADD” option, fill in the beneficiary details, such as A/C number, IFSC, etc., accept the terms and conditions, and hit “Submit.”
- On the next page, check whether your beneficiary details are correct, and then click on “Confirm.”
- After confirming, you must approve the third-party beneficiaries by clicking on ” Approve.” Once again, enter the profile password and select the “Approve Beneficiary” option.
- Now, choose the approval method, such as “Using OTP” or “Using ATM.” The ATM method will approve the beneficiary instantly, while the OTP method will take some time.
- Select whatever option you want. Now, we will use the OTP option, so select “Approve Through OTP.”
- On the next page, select the A/C number. You will then receive an OTP to a registered mobile number. Enter the OTP and hit the Approve button.
- Now, the “ATM Method” is like instant activation. You will receive a 10-digit reference number, which you need to enter that reference number at the ATM to activate the beneficiary.
- That’s it! Adding SBI Bank Beneficiary is successful.
Procedure Add Beneficiary in SBI Bank through YONO SBI
- First, download the “YONO SBI” app from the App Store or Play Store.
- After installing it, log in to the app with SBI Bank credentials.
- After successful login, tap “Fund Transfer” and “Add/Manage Beneficiary” on the next page.
- Now, enter your profile password and tap the “Submit” button.
- After successful login, choose your beneficiary account type like “Other Bank” or “Same Bank“.
- After choosing, enter your beneficiary details and the OTP (which you will receive on your bank-registered mobile number).
- Now, tap on submit. You must approve the account using either the “ATM Method” or the “OTP Method.”
- Using the OTP Method, you can only transfer Rs. 5,00,000/- in the first four days.
- The “ATM Method” is like instant activation. You will receive a 10-digit reference number, which you must enter at the ATM to activate the beneficiary.
For more and complete details, please contact the nearest SBI Branch or Call the customer care helpline number.
