if you are new to the world of internet banking, this article will be worth your while. Get along with us in this article and learn about fund transfer process in banks. here, we will primarily focus on “online fund transfer process in SBI”. This is a step by step guide that will tell you how to transfer funds online in SBI. You will get to know how to transfer funds from SBI to SBI or transfer funds from SBI to any other bank. The process is quite simple and quick. All you need to have is a good internet connection, SBI account details, the details of the other bank to which you want to transfer money, and a bit of time and patience. Once you get all that, get started with State Bank of India online fund transfer process.
Let’s get started.
SBI Money Transfer to other Bank – Step by Step Process
Here is a step by step guide to transfer money from any branch of SBI to other bank. Have a look at them.
Step-1: Login to SBI Net banking with a Valid Username and Password
Here, we are presuming that you have already registered for SBI net banking service. If you haven’t registrered yet, you can do SBI net banking online registration using Debit Card. To login, you can either type the SBI net banking on Google or click on the url given below:
Step-2: Add a Beneficiary in SBI Account
For any fund transfer activity, you need to have a beneficiary name in your net banking account. For example, if you want to transfer money to Mr. Satinder, then the account details of Mr. Satinder must be added on your SBI net banking account as a beneficiary. So, first add a beneficiary in SBI account and then proceed to next step.
Step-3: Transfer Money to the Added Beneficiary
Once, you have successfully added the beneficiary and the bank has approved the same, it’s time to start the fund transfer process. Go to Payment/ Transfer > Interbank beneficiary. Afterwards,. select the transaction type as NEFT or RTGS. Finally, enter the name of the beneficiary, amount, and submit it.
And that;s it. SBI online fund transfer process has been completed.
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Happy and Safe Banking!