Friday 31 August 2012

Using SBI ATM for Card to Card Money Transfer

    State Bank of India (SBI) is the largest government banking and financial services company in India in terms of revenue and market capitalization. SBI tag lined as “Banker to every Indian”. SBI provides State Bank ATM-cum-Debit Card facility through which an SBI account holder can withdraw cash and do many more stuffs free of charge at over 26,000 ATMs of State Bank Group within the country. Now there is no need to visit the branch or login to your Online SBI Account to transfer money to other SBI account holders. Instead you can use instant SBI Card to Card Transfer facility provided through SBI ATMs.

How to Transfer Money through SBI ATM:

    If you need to transfer some money from one SBI account to another SBI account or want to send some money to relatives, you can do that using SBI ATM. There is no direct option to transfer money directly to SBI bank account using ATM. Instead, you can use the card to card transfer facility from SBI ATM. In card to card transfer, the money in your account gets transferred to account number of beneficiary’s debit card number of state bank group. As a result, you can say it that card to card money transfer is as same as transferring money to another bank account. You will get the receipt of the money transfer from the ATM counter. You can check your online account statement to verify that the money has been transferred to the right SBI account (SBI account number of beneficiary Card holder will be
given in the transaction statements.)

Steps for Card to Card Money Transfer Facility:

   To transfer money using State Bank card to card fund transfer facility, you can follow the following steps:
  1. Swipe your debit card of State Bank of India.

  2. Choose Transfer Option (Transfer option could be seen at the right bottom side of the ATM screen after swiping the card.)

  3. Enter the PIN (After selecting Transfer option you will be asked to enter the ATM Card PIN Number.)

  4. Choose Card to Card Transfer option (from the various option listed on the screen after entering the PIN.).

  5. Enter Beneficiary’s Debit Card Number (Enter the 19-digit debit card number of the recipient’s Debit card).

  6. Enter Again Beneficiary’s Debit Card Number (For confirmation).

  7. Enter Transferable Amount (Enter the amount of money which you want to transfer, should be <= 15000 rupees).

  8. Select account type (You will be asked to choose your account type from either Savings or Currents).

  9. Transaction Completed (Your transaction is completed now and the amount of money is credited instantly to the recipient’s account).

  10. Collect the printed receipt for future reference.

Things you must have for SBI Card to Card Transfer:

     For availing SBI Debit Card to Debit Card money transfer facility you must have these two: Your
debit card
and debit card number of beneficiary.

SBI Card to Card Transfer Limits:

   At present, limitation for State Bank of India card to card transfer facility is:
  • Per transaction limit- You can transfer a maximum of Rs 15,000/- per transaction.

  • Per day limit- A maximum of Rs 30,000/- can be transferred per day from one debit card to another.

  • Number of transactions limit- An SBI ATM cardholder can do a maximum of two transactions per day for card to card money transfer.

I hope this information will be helpful for many people. :)

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