How to Transfer Funds from Online SBI without Adding Beneficiary

First of all to be able to transfer money through Online SBI portal you should have Internet Banking Facility enabled, as well as you should have transaction rights in order to be able to transfer funds from your Online SBI Account. And suppose if you have rights enabled for viewing only in Online SBI you can Upgrade Access Level from Viewing Rights to Full Transaction Rights in Online SBI to know the procedure to upgrade access level click here.

So now let’s move on to the main topic on How to Transfer Funds from Online SBI without Adding Beneficiary, SBI have introduced a new feature in its Online SBI Internet Banking portal named Quick Transfer which allows you to transfer funds or money from your bank account to any bank account without adding beneficiary or waiting to get the added beneficiary activated up to Rs.5000/- per day per transaction.

Below are step by step process on How to Transfer Funds from Online SBI without Adding Beneficiary or Registering Beneficiary.

Learn How to Transfer Funds from Online SBI without Adding Beneficiary

And navigate to Payments/Transfers > Quick Transfer.

Select the account number from the list from which you want to transfer money, enter the beneficiary name in beneficiary name field, enter beneficiary account number correctly in the beneficiary account number field, select the payment option from Within SBI (within SBI applies when you are transferring money from SBI to SBI Bank Account) or Inter Bank (Inter Bank applies when you are transferring from SBI to other bank account) so select appropriate option from it (if you are transferring to Inter Bank it will ask you to enter IFSC detail, select transfer mode from IMPS or NEFT), enter the amount to be sent, click on I accept the terms and conditions and click on submit button.

To complete the transaction you will have to complete the additional security steps by entering the OTP Code received on your registered mobile number.