Intrabank Money Transfer

Step By Step Guide To Intrabank Money Transfer (SBI To SBI)

In Banking by Akshay BhosaleLeave a Comment

There are a lot of ways using which banks allow you to transfer your money from your account to other. One such method is net banking. You can transfer money from your account using net banking. In this article, I’ll explain how you can use SBI net banking to transfer money to another account which is also in SBI.

There are 2 steps that you have to follow for this transaction. You need to add that person as a beneficiary to whom you want to transfer money. Once the beneficiary is added, you can transfer money to them easily. This process of adding a beneficiary is a one time process. You can transfer money to a beneficiary as many times as you want.

I’ll show you the steps using which you can add a person as a beneficiary who has an account in SBI same as yours(Intra-bank Beneficiary).

How To Add an Intra-bank Beneficiary

1] Go to onlinesbi.com. Then log into your account using your username and password.

Intrabank Money Transfer
2] Then click on “Profile” and then click on “Manage Beneficiary”.

Intrabank Money Transfer
3] It will then ask you to enter your Profile password.

Intrabank Money Transfer

4] You will now be directed to the Manage Beneficiary page. Now click on “Intra-Bank Beneficiary”. This option is for all the account holders who have their account in SBI like you.

Intrabank Money Transfer

5] Now enter all the banking details of the person whom you want to transfer the money. The most important detail here is the Account Number of the beneficiary. So make sure you enter the correct account number and check it again for as many times as you would like before proceeding with the process.

Intrabank Money Transfer

6] Once you have entered all the details and have submitted it, you have to approve it. For this, click on “Approve Now”.

7] Now click on “Approve Beneficiary”.

8] Now click on “Approve through OTP”.

Intrabank Money Transfer

9] Now you will get an SMS on your registered mobile number that will have the OTP. Enter this OTP and click on “Approve”. The process of adding an Intra-Bank beneficiary for SBI account will now be completed.

Note: It takes about 4 hours to activate a new beneficiary after you have completed the above process. Also, this is done during banking hours only. If you add a new beneficiary before 8 am or after 6 pm of a working day or on a bank holiday, then the beneficiary will be added on the next working day.

How To Transfer Money Using Net Banking To The Beneficiary

Only after the bank activates your newly added beneficiary, you can transfer money to them. Follow the steps below to transfer money using online SBI net banking.

1] Go to onlinesbi.com. Then log into your account using your username and password.

2] Then click on “Payments/Transfers” tab.

3] Now under “Within SBI”, click on “Account of Others”. You will see the list of all the beneficiaries you have added who have their accounts in SBI.

Intrabank Money Transfer

4] Now select the account of the person whom you want to transfer the money. Enter the amount that you want to transfer and you can add remarks to this transaction if you want. This remark will be shown on your and the beneficiaries mini-statement. Now, click on “Submit” to initiate the transaction.

Intrabank Money Transfer

5] Click on “Pay Now” and “Submit”. The transaction details will be displayed. Now click “Confirm”.

6] You will get an SMS on your registered mobile number regarding the details of your transaction. Also, when the money is successfully credited to the beneficiary account, you will get another message with the confirmation. The SMS will also show your remaining balance.

When you want to transfer money then next time, just follow the above simple steps. Hope you found this article helpful. For any queries or suggestions, please leave a comment below.

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