SBI Quick Transfer – Limit Per Day, Timings, Charges and Transfer Process

SBI Quick Transfer Limit per Day | SBI Quick Transfer Charges, Timings, and How to Use | SBI Quick Transfer without Adding Beneficiary

What is SBI Quick Transfer

SBI Quick Transfer, a service offered by the State Bank of India, enables account holders to swiftly transfer money between bank accounts both inside SBI and at other institutions. The biggest advantage of employing this method of cash transfer is that money may be transmitted right away without the beneficiary first having to be added to the account. Customers of SBI mobile banking, as well as net banking, can use the service. Users of net banking have the option to send money using NEFT and IMPS. Users of mobile banking can only transfer money through IMPS, although they are not charged a fee for transfers up to Rs. 1000.

SBI Quick Transfer

Procedure to Use SBI Quick Transfer Feature via Netbanking

By using the Quick Transfer feature of internet banking, an account holder who uses SBI’s internet banking service can transfer money without first adding a beneficiary. The steps listed below must be followed in order to send money rapidly without adding a beneficiary to your SBI account:

  • First of all, login to your registered SBI Internet Banking Account
  • After that, select “Quick Transfer (Without Adding Beneficiary)” from the “Payments/Transfers” drop-down menu
  • Now, choose the account from which the money will be taken out, and input the necessary information like:
    • Beneficiary’s Name
    • Account number
    • Payment Option
    • Transfer mode
    • The amount,
    • Purpose, etc
  • After that click on the submit button
  • Now. Review and recheck the information you entered, and then press “Confirm” to continue
  • To complete the transaction, enter the high-security password that was issued to the SBI-registered mobile number.
  • Finally, you will receive the transaction ID, which can be used to verify the transaction’s status, and the money will be sent to the beneficiary’s account.

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ModeService Charge
IMPSUp to Rs. 10,000

Note: A person can transfer money to a beneficiary without the recipient having to be registered.

An individual must enter the beneficiary account number twice, one of which will be masked, in order to verify that the entered data is accurate.

Only after the customer authenticates the OTP that has been issued to his or her registered mobile number or email address will a transaction be approved.

The accuracy of the beneficiary credentials submitted will be exclusively the customer’s responsibility, and the bank disclaims all liability if the necessary information is entered incorrectly.

Procedure to Use the Anywhere App to Make an SBI Quick Transfer

  • The following transactions are available with the SBI Quick Transfer feature in the Anywhere app for account holders:
    • Send Money
    • Receive Money
    • Donations

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Steps to Send Money to a Beneficiary

The user needs to follow the below-given steps to send money to a beneficiary:

  • First of all, Log into your registered account by using the SBI Anywhere personal app.
  • Choose the option Quick Transfer & Donations
  • After that choose the option Send Money
  • Now Choose the “Debit Account” from which to deduct the desired amount.
  • Proceed further and choose whether you want to pay with a QR code or your account information.
  • Now enter all the required information
  • Finally, submit your request and the sum will be promptly deposited into the beneficiary’s account.

Steps to Request to the Remitter to Receive Money

The user needs to follow the below-given steps to request the remitter to receive money

  • You can provide the remitter with your account information or a QR code.
  • If the QR code was not previously generated, it can be created using the information associated with your account.
  • To provide the remitter of your encrypted account information, click the share QR.
  • The other option allows you to immediately share the account information.

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SBI Quick Transfer Limit

SBI Quick Transfer Limit
Mode of TransactionLimit per transactionLimit per day
SBI Mobile Banking₹ 1/-₹ 10,000/-₹ 1/-₹ 25,000/-
SBI Net Banking₹ 1/-₹ 10,000/-₹ 1/-₹ 10,000/-

SBI Quick Transfer Fees

A small fee is required from the account holder while using SBI Quick Transfer to complete transactions. The service fee that the account holder is responsible for each type of transaction is listed below:

Mode of TransactionTransaction AmountService Charge
NEFTUp to ₹ 10,000/-₹ 1 + GST
IMPSUp to ₹ 1,000/-Nil
IMPS₹ 1,001/- to ₹ 10,000/-₹ 1 + GST

Timings for SBI Quick Transfer

The SBI Quick Transfer process uses NEFT and IMPS. If you select the IMPS option, your transaction will be processed instantly on the mobile app and through net banking around the clock. If you transfer funds via SBI NEFT, your transfer will be completed either immediately or at the latest by the following business day.

NEFT or IMPS are two ways to complete an SBI Quick Transfer. If you use the IMPS process, your transaction will be finished promptly 24 hours a day, seven days a week, on the mobile app and through net banking. The settlement will take place the same day or the following working day if you send money using SBI NEFT.

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