How to Transfer Money Online SBI: Now-a-days every one uses internet banking frequently, as it is time saving and very usefull for banking and transferring without even going to banks. Anyone if we want to transfer money from one account to other accont through online we need internet connection is mandatory.
Actually we have so many ways to transfer money one is we can trasfer money through ATM to ATM, By using immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) and Real time gross settlement (RGTS).
IMPS: Users can transfer money immediately from one account to the other account, within the same bank or accounts across other banks. There is no minimum amount for transactions, but the maximum amount possible is Rs 5 lakhs. No need to register the payee/beneficiary to transfer money through IMPS.
NEFT: It is a nation wide payment system facilitating one-to-one funds transfer. There is no minimum limit or maximum amount that can be transferred through NEFT.
RTGS: RTGS transactions are usually to transact in larger amounts in real time, the minimum amount required is Rs 2 lakhs and there is no maximum amount. The RTGS system is the fastest possible interbank money transfer facility available through secure banking channels in India.
Here i am explaining step by step procedure How to Transfer Money From SBI to SBI Account Online with pictures.
How to Transfer Money From SBI to SBI
If you have already apply SBI online banking, Login to your sbi net banking website. Otherwise you should apply for SBI net banking service.
- First Open SBI official website https://www.onlinesbi.com/
- click on personal banking login and again click continue to login
- Here we can see the login form like below
Before you transfer money to another account you need to add them as beneficiary. here i will show you how to add beneficiary.
- You should login through your username and password
- Then you go to profile > manage beneficiary
- Here we can see three options like below image
1) Intra-Bank Beneficiary
2) Inter-Bank Beneficiary
3) State Bank Group Beneficiary
- Intra bank means one account to another account at the same bank Ex. SBI to SBI
- Inter bank means one bank account to another bank account Ex. SBI to HDFC.
- If we want to transfer money from SBI to SBI online we can select intra-bank beneficiary.
- If we click on Intra-Bank beneficiary we can see the form like below
Here we can enter complete details like Name, Account Number, Transfer limit and click on submit button Now you will get OTP on your register mobile no Then you should verify the same.
It takes one day time to beneficiary approval by bank. Once you get the approval you can see the status in Active. You can proceed to next step to transfer.
- Once the beneficiary is approved by the bank you can transfer money through netbanking
- You go to payment/transfer > third pary transfer( SBI to SBI)
- Here enter amount and select the benificiary account and click on submit button. Other wise if you want to transfer other bank
- You go to Payment/transfer > Inter-Bank transfer( SBI to Other)
- Here we can see the options like below
- Here we select the transaction type as NEFT or RTGS.
- select NEFT for less than 2 lakh and proceed
- Here enter amount and select the benificiary account and click on submit button.
- Finally you can see the money transfered message on your screen.