If you hold an account with the SBI. And want to transfer money from your account. Then you will have to add the receiver’s account as a beneficiary. But there is a way around it. You can transfer money from SBI account without adding beneficiary as well.
That is what we will be learning today in this article. But you should know one thing. The maximum amount that can be transferred without adding a beneficiary is Rs. 25,000 per transaction per day.
So if you want to transfer more than Rs. 25,000. Then you should add the beneficiary account and wait till it is activated. Once you have transferred the money you can delete the beneficiary account as well. (if you wish to do so)
State Bank of India calls this service “Quick Transfer”. If the beneficiary holds an account with SBI. Then you just have to enter the name and the account number of the beneficiary. But if the account is with other banks then you will have to enter the IFSC Code as well.
Steps to Transfer Money from SBI Account Without Adding Beneficiary
Time needed: 5 minutes.
You can transfer up to Rs. 25,000 per transaction per day from your SBI account without adding a beneficiary account online. Follow the steps explained below.
- Visit the official website of the State Bank of India.
First of all, open your browser and visit the official website of the State Bank of India.
- Login to your account.
Enter your username, login password, and solve the captcha code to login into your account.
- Click on Payments / Transfers Option.
After you login into your account. You have to click on the “Payments / Transfers” option. This is the second option in the top menu bar.
- Select Quick Transfer. (Without Adding Beneficiary)
On the Payments / Transfers page, you have to select Quick Transfer by clicking on it.
- Select your Bank Account Number from which you want to transfer the money.
All the bank accounts that you have with SBI will be displayed to you. Now you have to select the account number or the nickname of the account from which you want to transfer the money.
- Enter the Beneficiary Account Details.
Now you have to enter the beneficiary account details like name and bank account number.
- Select the Payment Option. (within SBI or Other Bank Transfer)
Now you have to select if the beneficiary has an account within SBI or with any other bank in India.
- Enter the Amount of Money you Want to Transfer.
After selecting the payment option, you have to enter the amount of money you want to transfer to the beneficiary. (Maximum Rs. 25,000)
- Select the Purpose of the Transfer.
The system will ask you the purpose why you are transferring the money. Select the suitable purpose from the drop-down menu.
- Read, Accept the Terms, and click on the Submit Button to Transfer Money Quickly.
There are some terms and conditions of the bank. You have to read them carefully. If you agree to the terms then tick the box. Finally, click on the “Submit” button to complete the money transfer.
When you click on the “Submit” button you will receive an OTP on your registered mobile number. You will have to enter that to complete the transfer.
If you need more help then you can call the customer care of State Bank of India on 1800 425 3800.