How to Add Beneficiary in SBI – Intra Bank & Inter Bank: Internet Banking users of SBI need to add the beneficiary in order to transfer money online from one account to another account.
There are many people who just want to add beneficiary to make online fund transfer but they are worried about “how can i add beneficiary in sbi net banking?”.
The process of adding Inter-bank or Intra-Bank Beneficiary in SBI is very simple.
While adding a beneficiary in your SBI account, you need to provide beneficiary account information such as:-
- Full name
- Bank account number
- IFSC code etc.
Note: Without adding a beneficiary, you will not be able to transfer money.
So, if you are in search of transferring funds through within the SBI or to another bank then the follow simple steps for adding the Beneficiary (Inter-Bank/ Intrabank ) in your Online SBI Account.
If you are having all the account information of the beneficiary, then it is quite easy to add Beneficiary in SBI.
It will hardly take only 3-4 min to add beneficiary in sbi. But firstly, you will have to add the beneficiary in SBI Online.
The funds which you want to transfer can be transferred using NEFT, RTGS & IMPS Services.
But before that, you should know that you can add a beneficiary to your net banking account:-
- With Intra-bank Beneficiary Option (Transfer Funds within SBI)
- With Inter-bank Beneficiary Option (Transfer Funds Outside SBI)
Difference between Inter Bank and Intra-Bank Beneficiary of SBI
Internet banking users of SBI should understand the difference between Inter Bank Beneficiary and Intra Bank Beneficiary as it is important in money transfer process.
Simply people have only two options in money sending process. Either they send money to the same bank account or they send money to different bank account.
What is “Inter-bank” Beneficiary in SBI?
Inter Bank Transfer funds enable electronic transfer of funds from the sender SBI account to the account of the beneficiary account maintained with any other Bank.
What is “Intra Bank” Beneficiary in SBI?
Intrabank transfer means transferring of money SBI account to a beneficiary account having which is available in the same bank.
How to Add Beneficiary
In order to add beneficiary in SBI account one should have Internet banking with a valid user ID and password.
On successful login, you can add beneficiary in sbi (inter-bank beneficiary / intra-bank beneficiary) from profile option.
You will see add Inter-Bank Beneficiary and Intra-Bank Beneficiary option using which you can add the beneficiaries and can transfer money easily.
How to add inter bank beneficiary in SBI
If you are looking for the procedure to add inter bank beneficiary in SBI then check the complete procedure below.
Procedure to add beneficiary in SBI – Inter-Bank Beneficiary
For the sake of adding an interbank beneficiary in SBI online, you will have to first activate SBI net banking account.
Then, if you have activated your Internet Banking Account in SBI then follow below instructions step by step carefully.
- Firstly, visit the SBI net banking login page https://www.onlinesbi.com/ & click on continue to login.
- Now, login to SBI Net Banking Account by using your username & password.
- Then, click on Payments/Transfers mentioned on Top Menu.
- Thereafter, click on “Inter-Bank Beneficiary” Under outside SBI. (Do similarly for Intra-Bank beneficiary).
- Now, select the last option named “NEFT” in the transaction type then click on “Proceed”.
Important: While adding a new beneficiary for the NEFT Fund Transfer, please add the same for IMPS or SBG (State Bank Group).
If the beneficiary is from SBG & RTGS list. Then there is good news for you that you will not have to add the same beneficiary again & again for transaction type other than NEFT.
- Then, click on the link named “Click here to add a new Inter-Bank Beneficiary” which is just beside the Amount Box.
- Now, enter your Profile Password carefully without making any mistake then click on.
- Fill the required details & at last tick on I accept the Terms and Conditions.
- Thereafter, click on Approve Now to proceed to approve an interbank beneficiary.
- Now, click on Approve Beneficiary button.
- Then, select the approval type click on Approve Beneficiary option.
- Now there you will find two options named
- (1) Approve through ATM (IRATA*)
- (2) Approval through OTP.
Approve Beneficiary Through ATM:
If you are going to choose IRATA then, a number will be generated & shown on your screen.
You will have to note this number & use it to approve the beneficiary through any SBI ATM.
First, you will have to swipe your ATM Card in SBI ATM then put your PIN & follow these instructions:
Approve Beneficiary Through OTP:
If you go for this option then you will receive an OTP on your mobile.
Then you will have to or need to enter that OTP number in the space provided. Finally, the beneficiary will be approved.
Now you will get a message saying that you have successfully added & a new beneficiary for transfer of funds from your accounts.
Procedure to add Intra-Bank Beneficiary in SBI Online
- First of all, you will need to log in your net banking account by entering your user ID and password by visiting SBI website:https://www.onlinesbi.com.
- Then, click “Manage Beneficiary”option available in profile tab.
- On ‘Manage beneficiary’ screen, you can check “Intra-Bank Beneficiary” option. Click and proceed.
- Then, enter beneficiary account details such as name, account number, confirm account number and transfer limit and submit.
- Then, you will need to go through “Approval Beneficiary”. To approve a beneficiary, complete all the steps as shown above in adding inter-bank beneficiary process.
Note : SBI beneficiary activation time is 4 Hours
Matter to be remembered
In order to transfer the funds to the beneficiary, do remember that only approval is not enough.
Until the beneficiary activated you will not be able to transfer funds. If the new beneficiary is approved in between 06:00 am to 08:00 pm, it will only activate on the same day within 4 hours.
How to add beneficiary in sbi freedom app
If you want to do fund transfer using SBI Freedom App then first you need to add beneficiary in SBI Freedom.
This will hardly takes 2 minutes to add a new payee as beneficiary in SBI Freedom
Check the steps given below to add beneficiary in SBI Freedom app:-
- Open SBI Freedom App on your mobile.
- Login to SBI Freedom using User ID & MPIN
- Now you need to tap on “Fund Transfer”
- Next you have to tap on “Add Payee”
- Now you need to select account
- Then you have to enter the following details:-
- Payee Name
- IFSC Code
- Payee Account Number
- Nick Name
- Transaction Limit
- Then tap on “Register” Button
Payee will be added. You can make any fund transfer after 4 hours of payee addition.
How to add beneficiary in sbi anywhere app?
Sorry currently SBI is not providing the feature of adding beneficiary in SBI Anywhere Personal App. May be in future SBI will add this feature in this app.
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