SBIs quick transfer feature eliminates the need of registering the user making the process of transferring funds quicker.
The country’s largest public sector bank, State Bank of India, announced that it has raised the limit on the amount of money that can be transferred online by a user via SBI’s Quick Transfer option. Users can now transfer up to Rs. 25,000 in a day through the Quick Transfer feature, SBI said in a tweet. SBI’s quick transfer feature is quite helpful for the transfer procedure as it eliminates the need of registering the user through ‘the add beneficiary‘ process. This helps in making the process quicker because the user doesn’t need to wait for the registration to complete.
The bank also raised the per transaction limit of its Quick Transfer feature to Rs. 10,000 from its earlier limit of Rs. 5,000. The quick transfer can be done through the SBI app as well as the website.
In a push to make cashless transaction more accessible SBI has taken many steps including an app that helps customers transfer money using their accounts on social media sites Facebook and Twitter. SBI has developed an app called ‘Mingle’ which allows users to transfer funds to contacts on their social networks.
Meanwhile the number of users for another SBI mobile wallet app – State Bank Buddy – crossed the 10 million mark in April. Customers can send money, view bank statements, recharge mobile phones and set-top boxes, book movie tickets and shop online using the Buddy app.
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