How to transfer funds without adding a beneficiary via SBI Quick Transfer?

Via the SBI Anywhere mobile app

Follow the steps below to transfer funds through the SBI Anywhere mobile app

  • Open the SBI Anywhere personal app and sign in to your account using the required credentials.
  • Now tap on the option “Quick transfer and donations” and select “Send money”
  • Now select your “Debit Account” from the drop-down list from which you wish to debit the amount.
  • Now enter the required details and press “ Submit ”
  • The fund will be transferred instantly to the beneficiary’s account.

Steps to Receive Money Using Quick Transfer

  • You can submit a request to the sender to receive funds by following the steps below:
  • You can share the sender with your account details or a QR code.
  • A new QR code will be generated using your account details if the QR code has not been generated previously.
  • To share your encrypted account details with the sender, tap “ Share QR ”
  • Optionally, you can use the other option to directly share account details.

Points to note when using the SBI Anywhere mobile app

  • Customers can only transfer funds using the IMPS service, which is open 24/7.
  • The fast transfer in Mobile Banking allows you to transfer funds immediately.
  • On the next business day, an automatic refund for a failed IMPS transaction will be credited to the customer’s savings account.
  • The daily transaction limit is Rs. 25,000 / – and the per transaction limit is Rs. 10,000 / -.
  • The following service charges apply for the SBI Anywhere Application Fast Transfer service.
Fashion Service charge
IMPS Up to Rs. 10,000
Via SBI Net Banking

Via SBI Net Banking

An account holder with active SBI online banking service can transfer funds instantly without having to add a beneficiary by using the quick transfer feature. To easily transfer funds without assigning a beneficiary to your SBI account, follow the steps below:

  • Visit the SBI Net Banking portal and log into your net bank account using the required credentials.
  • In the “Payments / Transfers” drop-down menu, click on “Quick transfer (without adding a beneficiary)”
  • Select the account from which the funds will be deducted, then fill in the necessary details and click on “ Submit ”
  • To continue, check the details you entered and press the “Confirm” icon.
  • To complete the transaction, enter the high security password sent to your mobile number registered with SBI.
  • The money will be credited to the beneficiary’s account and you will get a transaction ID which you can use to monitor the status of the transaction.
Points to note when using the SBI net banking facility

Points to note when using the SBI net banking facility

  • You can use the IMPS and NEFT functions if the beneficiary’s account number is not managed by SBI.
  • If NEFT is selected as the payment method, the transaction will be processed as quickly as possible the next business day, based on the NEFT settlement period.
  • The fast transfer facility using IMPS is available 24×7 and the funds transfer is set instantly.
  • On the next business day, an automatic refund for a faulty IMPS or NEFT transaction will be credited to the customer’s account.
  • The daily limit and per transaction is limited to Rs 10,000.
  • Please keep in mind that while the service charge for NEFT is recovered with the installment amount, the service charge for IMPS is recovered directly from your account.
  • If the beneficiary’s account is maintained with SBI, no service fees are charged. If the beneficiary’s account is not with SBI, the following service charges will apply.
Fashion Service charge
IMPS Up to Rs. 10,000
To note

To note

  • Without requiring the beneficiary to be registered, an individual can transfer funds to the beneficiary.
  • To confirm that the data entered is correct, a person must enter the beneficiary’s account number twice, one of which will be hidden.
  • Each transaction will only be authorized if the customer authenticates the OTP, which will be sent to their registered mobile phone number or email-id.
  • The customer will be fully responsible for the accuracy of the recipient credentials submitted, and the bank will not be responsible if the required information entered is incorrect.

SBI fast transfer deadlines

SBI Quick Transfer can be done via NEFT or IMPS. If you use the IMPS procedure, your transaction will be carried out instantly on the mobile application and via online banking 24/7. If you use SBI NEFT to transfer money, the settlement will be carried out on the same day. or the next working day.

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