What is funds transfer?
- You can transfer funds online to your own accounts in the same branch or other branches (same bank). The amount transferred cannot exceed Rs 10,00,000 which is the per day Intra branch funds transfer limit for SBI and all associate banks. You can use this feature to transfer funds from current to savings or deposit accounts.
What is the procedure to transfer funds?
- Select the accounts which will be debited and credited. Specify the amount to be transferred and the remarks for this transaction. Remarks help you to identify the transaction in your account statement. If you have enabled high security settings for your accounts, you will receive a high security password to complete the transaction. This is an optional feature only.
What is the per day limit for online transactions?
- If you hold a State Bank of India account, you can make transactions up to Rs.500000 per day including funds transfer, third party transfer, demand draft, and RTGS transactions.
I am not able to view menus related to funds transfer, when I log into the Internet Banking site?
- You must have transaction rights on your accounts. Approach your branch to enable transaction rights on your accounts. You will be required to fill a form. Once your signature is verified by the branch official, your request will be approved.
How do I report failure of funds transfer?
While logging a ticket, ensure to provide:
- Date of Transaction
- Amount of Transaction
- Transaction Reference Number
- Debit Account Number and Branch/Branch Code
- Credit Account Number and Branch/Branch Code
Source: SBIOnline
