State Bank of India allows its account holders to transfer funds from one bank account to other (both within SBI and other banks) quickly using SBI Quick Transfer. The biggest advantage of using this fund transfer method is that funds can be transferred instantly without even adding the beneficiary to the account. The service is available to both net banking as well as SBI mobile banking customers. Netbanking users get the option for fund transfer through NEFT as well as IMPS. Mobile banking users can transfer funds through IMPS only but they do not have to pay a fee for transferring funds up to ₹ 1000.
How to do Quick Transfer in SBI through Anywhere App
Account holders can carry out following transactions through the SBI Quick Transfer service in the Anywhere app:
- Send Money
- Receive Money
- Donations
In case you want to transfer money to a beneficiary, you have to follow the steps mentioned below:
- Open the SBI Anywhere personal app and log in to your account
- Select “Quick Transfer & Donations” option
- Select the “Send Money” option
- Select the “Debit Account” from which the amount will be deducted
- Select whether you want to pay through QR code or using the account details
- Enter details and submit your request
- The amount will be transferred immediately to the beneficiary’s account
In order to receive money, you can place a request with the remitter. Here’s how to do it:
- You can share your account details or QR code with the remitter
- In case the QR code is not generated previously, a new QR code can be generated using your account details
- Click on the share QR to share your encrypted account details with the remitter
- Alternatively, you can directly share the account details using the other option.
How to do Quick Transfer in SBI through Netbanking
An account holder using the internet banking facility of the SBI can transfer funds directly without adding a beneficiary using Quick Transfer facility of internet banking as well. You have to follow the steps mentioned below to transfer funds quickly without adding a beneficiary in SBI account:
- Log in to the SBI internet banking account and select “Quick Transfer (Without Adding Beneficiary)” in the “Payments/Transfers” drop-down menu
- Select your account from which the amount will be deducted, enter required details such as beneficiary name, account number, payment option, IFS code, transfer mode, amount and purpose and click on the submit button
- Verify the details entered and click on the “Confirm” button to proceed
- Now enter the high-security password sent to the mobile number registered with SBI to complete the transaction
- The amount will be transferred to the beneficiary’s account and you will get the transaction ID which can be used to check the status of the transaction
SBI Quick Transfer Limit
You can transfer money from SBI through quick transfer using net banking and mobile banking (SBI Anywhere Personal app). The limit varies for each service depending upon the manner in which the transfer is carried out. SBI Quick Transfer limit per day is mentioned below:
SBI Quick Transfer Limit | ||||
Mode of Transaction | Limit per transaction | Limit per day | ||
Minimum | Maximum | Minimum | Maximum | |
SBI Net Banking | ₹ 1/- | ₹ 10,000/- | ₹ 1/- | ₹ 10,000/- |
SBI Mobile Banking | ₹ 1/- | ₹ 10,000/- | ₹ 1/- | ₹ 25,000/- |
SBI Quick Transfer Charges
An account holder has to pay a nominal fee for making transactions through SBI Quick Transfer. The service charge payable by the account holder for each kind of transaction is mentioned below:
Mode of Transaction | Transaction Amount | Service Charge |
NEFT | Up to ₹ 10,000/- | ₹ 1 + GST |
IMPS | Up to ₹ 1,000/- | Nil |
IMPS | ₹ 1,001/- to ₹ 10,000/- | ₹ 1 + GST |