How to Transfer money from SBI to SBI and SBI to Other Banks

Confused about transferring money from your account to some other?? Just relax and go through this article and at the end you feel much easier. As technology geared up along with innovations in the field of banking through internet provides the users much enhanced features making the things soothe with just the movement of your mouse and a click in fact ! So you decided to transfer a fixed amount to some other’s account through internet banking. Okay, done, here are the simple steps , which when followed exactly , your destiny can be achieved.

Procedure on Transfer Money from SBI to SBI

First of all make sure you have activated internet banking on your account. if so, log on using your secured username and password on the  website:-  https://www.onlinesbi.com/

After successful login, on the left side of the page you can find label payments/transfers next to My Accounts. Then a give a gentle click on it .Very soon you will be directed to a window show casing Payments / Transfers. This helps you to transfer money in your account. You can transfer funds to own accounts or beneficiary accounts in the same bank or other banks. In the first box funds transfer you can find two boxes namely with in SBI – outside SBI. If at all you wish to transfer money to the person who has an account associated with SBI, you are advised to choose the box with in SBI. But if you are destined to transfer fund to person who has an account in some other bank you are strictly advised to opt for OUT SIDE SBI.

WITH IN SBI:-

In the box you can find another two options like

  • Own account it enables to transfer money to your account in another branch.
  • Account of others this helps you to transfer money to some other person who has account in same or other branch. It’s quite easy to transfer funds to trusted third parties (some other person) by adding them as third party accounts. you are allowed to carry out any number of transactions not exceeding amount 5lac.In order to  transfer funds to third party having SBI account all that you need to do is adding and approving that third party.1st of all  you are expected to  register your mobile number in personnel details link under profile section. Next you will receive a One Time SMS password on your mobile phone to approve a third party. Suppose you do not have a mobile number, third party approval will be handled by SBI nearby branch. Only after approval of third party, you will be able to transfer funds to the third party. So after 24 hours third party account will have been associated to your online banking .next you can enter amount in the specified field and follow the on screen instructions to make your transaction successful.

OUT SIDE SBI:- If you wish to transfer money to person who has account in some other bank, then choose Inter-bank beneficiary. Then you will see a window featuring State bank group-RTGS-NEFT. Choose NEFT and proceed. It will guide you to transfer your fund successfully.

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