How To Add Beneficiary in State Bank of India? - Simple Methods
Add beneficiary in State Bank of India: State Bank of India provides a lot of online services for its customer to manage their account by sitting in a comfort zone and without going to a bank branch. One of such facilities is allowing its customer to transfer funds easily and quickly from one account to another within SBI as well as transfer funds to other banks customer using its internet banking and mobile applications such as SBI Yono Lite.
|Add beneficiary in State Bank of India|
The Bank will allow you to transfer funds through internet banking and mobile app via NEFT, IMPS or RTGS depending on your need, funding size and time. To avail of these facilities, you need to add beneficiaries to your SBI internet banking account to transfer funds through these facilities. Don’t have any idea on how to add beneficiaries in the State Bank of India? If yes then read this article which will help you to easily add beneficiaries into your SBI internet banking account without any hassle. Let’s get into the main part of this article
How to add beneficiaries to the State Bank of India?
You can add beneficiaries in SBI using two different methods. The methods are
- Using State Bank of India Internet Banking
- Using the SBI YONO app
Also Check: Activate SBI Debit Card
Method 1: Add beneficiary in SBI using Internet Banking
- First of all, go to the internet banking website of SBI or type www.onlinesbi.com on the address bar of your browser. Choose the ‘Personal Banking’ option at the main dashboard and then type the user name and password of your internet banking account along with the captcha displayed in the box to log in to it.
|Add beneficiary in SBI using Internet Banking|
- You have to enter high-security passwords received through SMS on your registered mobile number to successfully login into your SBI internet banking account.
- Once you have logged into your internet banking account, just place the cursor or click on the Payments / Transfers section from the list of menu available at the top.
- Under the fund transfer section, you will see the option to add and manage beneficiaries. You have to click on it to add a new beneficiary to your account in SBI.
- Now, it will ask you to enter your profile password to proceed further. Type your profile password and enter it to access secured options on internet banking. Remember that the profile password is completely different from the password which you used to login into your account.
- Once you correctly entered your profile password, it will take you to a new page where you need to select a category in which you want to add a beneficiary.
- Select the ‘SBI Beneficiary’ option if the beneficiary you want to add has an account in SBI and select the ‘Other Bank beneficiary’ option suppose the beneficiary having an account in any other bank.
|Select Add Beneficiary Option|
- After that, a new page will open. Here, you have to select the ‘ADD’ option. And then enter the details of the beneficiary like name, beneficiary account number, IFSC code if needed, Transfer limit, etc.
- And finally, accept the terms and conditions given by the bank and click on ‘Submit. A new page will display all details entered by you. Here, you have to check whether all details are entered correctly or not. Check the details thoroughly and then click on the ‘Confirm’ button.
- On the new page, you have to approve the beneficiary added by you to make another bank transfer. To do so, you just need to click on the ‘Approve Now’ option at the bottom of the form.
- Now, enter your profile password and click on ‘Approve Beneficiary’. Then, you need to select an approval method. There are two approval methods available that are ‘Using ATM’ and ‘Approve via OTP’.
- The OTP method will take some time to approve while the ATM method will instantly approve beneficiaries but you need to visit SBI ATM. So, click on ‘Approve via OTP’.
- On the next page, select account number and you will get OTP on your mobile number registered with the bank through SMS. Enter that OTP on the specific field and click on the ‘Approve’ button. That’s all. You have now successfully added a beneficiary.
If you have approved a beneficiary from 6 AM to 9 Pm, the beneficiary will be activated within 4 hours. If you approved a beneficiary after 9 PM, the beneficiary will be activated after 8 AM the next day.
How to approve beneficiary using ATM?
- After adding the details of the beneficiary, click on ‘Approve through ATM (SBI IRATA)’ to approve the beneficiary.
- A reference number that comprises 10 digits will be displayed on the next page. Note down that number and then go to the nearest SBI ATM branch.
- Insert your ATM card and enter a 4-digit PIN. After that, select the ‘Services’ option from the menu displayed on the ATM screen.
- And then choose Others >> Internet banking request approval. At the next screen, enter the 10-digit reference number.
- Once the reference number entered by you was confirmed, the beneficiary will be activated instantly.
Method 2: Add beneficiary in SBI using YONO app
If you have downloaded the SBI YONO app on your smartphone, then you can also add beneficiaries using the app. Open the app and log in to it by easy PIN or User id and password of SBI internet banking. Click on the ‘Fund Transfer’ option and then choose ‘Add / Manage Beneficiary Option. And then follow the same steps given method 1 from step number five to add and approve beneficiaries in SBI using the SBI YONO app.
Here we have explained two methods to add beneficiaries in the State Bank of India. You can easily do it in your home. State Bank of India also allows you to transfer funds without adding beneficiaries by using its Quick transfer facility. Do you want to how to transfer funds from SBI without adding beneficiaries, read the post on our website?