How to send money to the beneficiary

You can send money to the SBIonline beneficiary through SBIonline account. This process is very easy and you can easily send money the other bank account holder or same bank account holder. We can already been discussed on how to add the beneficiary to your account. The adding beneficiary process is after you login to your SBI net banking, you open the “Add Beneficiary” section (under transactions). Then click on whether to add intra bank beneficiary or interbank beneficiary. Once you select the option, you will be asked for the account details of the other bank account holder. Fill it and submit. Within 1 day the beneficiary will be added and you start sending money to them.

If you want to send money to the interbank beneficiary, you have to click on “send money to interbank beneficiary”. Make sure that you added that persona already to your account. Once you click on it, you will be asked for the money to send to that person. Enter the money and select the person carefully. It will be in the radio button. Then you need to select the purpose of sending the money it will ask you whether you are sending money for the loan, education fee, tax or any other purpose. This option included recently. So the bank will identify and cross check from what purpose you are sending and receiving money to you r SBI bank account.

The other option is NEFT or imps transaction. This will be asked at the beginning of the transaction. The NEFT transaction will be little bit late process. There are time slots where your money will be transferred along with other transactions. In any working day, the bank decides to send NEFT transactions at 4 time intervals. Morning 10 AM, 12 noon, 2 pm, 4 pm and 6 pm I think. So in these timing only your money will be received by the beneficiary. If you send money after 6 pm, your transaction will be happened ion the next working day only. In IMPS, this is not the case. The money will be immediately being sent.

We are always working together to get more information on SBI online process for any kind of service by SBI bank. State bank of India always try to give a best experience to its customers. Since it is having decades of experience in banking, it is obviously know the needs of its customers. The best way to transfer money to other beneficiaries, we have already been discussed. Now the cross check process on whether the money reached the beneficiary or not. The process is very easy. You need to ask the beneficiary whether he received a message of credited amount or not. If he did not receive the message within 5 minutes, you can ask him or her to open his net banking account and check the amount deposited or not. Ok? If they do not have internet banking facility, you can ask them to give a missed call to know the balance. Then, they come to know that the amount delivered to their account or not. Or else you can ask the person to install state bank of India every where android, ios, window app to their Smartphone. They can login and try to check the balance.

The other way is they can simply send a message to the given toll free number and get the balance in their account. And they also can get the last 10 transactions details very easily. The toll free number works fine.

The other ban transfer is also easy but adding the beneficiary takes some time. Once you add the other bank (non home branch account) like axis, hdfc, icici etc. you can also come to a conclusion that which kind of transaction you have done. Whether it is a NEFT or IMPS you have to be decided. While sending the money only you can select the option by which you can send the money. If you have chooses the option NEFT, then the money will not be delivered immediately. The bank will set up a given time bound or time slots to transfer the money. The bank NEFT timings are 4 timings as we have discussed previously. Finally you have to keep in mind that if your transaction is urgent does not go for NEFT transactions. Better go for IMPS. This IMPS transaction helps you deliver or credit the amount within minutes. The other important thing you have to notice here is that while doing the transaction for other bank it will send the OTP for sure to your mobile number. The other thing is that if you are doing home branch transactions, there will be no OTP arrived to your mobile number. If the amount is high, then definitely ou will get the OTP to your number whether it is NEFT or IMPS.

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