1. What is State Bank mCash?
State Bank mCASH is a simple and quick way to send money to any customer (both SBI & non-SBI), just by using beneficiary’s mobile number or email id through Internet banking or State Bank Anywhere mobile application.
Send Money: User can send money using 2 options:
Customer needs to enter Beneficiary mobile number, amount and enter remarks, if any, regarding the transaction. They need to accept the Terms & Conditions before initiating the transaction.
Customer needs to enter Beneficiary email ID, amount and enter remarks, if any, regarding the transaction.
At the beneficiary end, the recipient needs a Bank account, not necessarily with SBI. The beneficiary can receive money through Internet Banking (INB) pre-login. The recipient will receive a link in the SMS or email based on the medium chosen by the sender. An 8 digit passcode will be provided in the communication which is required to be used on the State Bank mCASH option in INB pre-login (Passcode expires within 5 days of creation).
Beneficiary is required to enter the Account Number, IFSC Code, Mobile number or Email address and Passcode in the space provided. Funds are transferred “Real time” via fund transfer functionality or IMPS facility for interbank transfers.
2. What is the permissible minimum/maximum amount for transactions?
3. What are the timings for the services?
|Mode of Transaction||Timings|
|Within SBI||24*7 hrs|
|Interbank (IMPS) Timings
(All days including Holidays)
4. What are the service charges applicable for transactions?
|Within SBI/Interbank (IMPS)||Service Charge|
|Rs.2.5+Tax per request|