The service can be used by customers who have subscribed to SBI's internet banking service. (SBI/Twitter)
India’s largest money lender, State Bank of India (SBI) is offering a money transfer service in which it is not necessary for a customer to add a beneficiary to send money. This service is called ‘quick transfer’ and enables customers to request a remittance. However, the service is only available for customers who have subscribed to SBI’s internet banking facility. The bank has set a limit of Rs 10,000 per transaction and a daily limit of Rs 25,000 using money transfer service.
SBI tweeted: “Simplify life with the ‘Quick Transfer’ service that doesn’t require you to add a beneficiary to Transfer Funds up to ₹25000/- per day (₹10000/- per transaction). Download the SBI Anywhere Personal app and avail of the benefit along with many more.”
The service can be used by customers who have subscribed to SBI’s internet banking service. They can use their login details to gain access to the facility. The service is available on QuickSBI, the bank’s internet banking portal — onlinesbi.com
SBI quick transfer transaction limit?
SBI allows transactions of up to Rs 10,000 via the quick transfer facility with a daily transfer limit of Rs 25,000. This means that the customer can make money transfer up to Rs 10,000 at a time using SBI quick transfer transaction limit. The maximum amount that can be sent is of Rs 25,000 per day.
When does money transfer take place?
If the beneficiary’s account is with SBI itself, “the remittance amount is credited instantly”, according to SBI’s internet banking portal. In case the beneficiary’s account belongs to some other bank, the money is sent through either of the Immediate Payment Service (IMPS) or National Electronic Funds Transfer (NEFT) options, according to SBI.
