State Bank of India(SBI) is undoubtedly the leading bank in India. It has been introducing latest services to the customers so that their banking experience could become easier than before. In our previous article, we have already discussed about how to activate IMPS in SBI and how to retrieve MMID for SBI. In this article we will tell you how to transfer money through IMPS in SBI. Once IMPS Service is activated for your SBI Account you can start using it to transfer money from one account to another(By Mobile Application/USSD Service/SMS Banking in any SBI or any other Bank).
How to Transfer Money through IMPS in SBI ?
What is IMPS Service in SBI ?
IMPS(Immediate Payment Service) is a service by SBI by which you can access your bank account and transfer funds instantly and securely. You can send money using Mobile Application, SMS Banking, USSD Based Service on an internet-powered laptop or PC. SBI IMPS Service enables you to transfer funds from your SBI account to any SBI or non-SBI account. The beneficiary account is credited immediately when a fund transfer request is made from your side. By using IMPS Service in SBI you can send/receive money using mobile number and an additional 7 digit MMID number
This service is available 24×7, throughout the year including Sundays and any bank holiday.
Benefits of Using IMPS Service in SBI
- To use this Service you do not need to register the Payee/Beneficiary(Unlike NEFT Transfer in Internet Banking)
- You can transfer the funds in real time i.e. the amount will be credited to the desired account immediately.
Requisites of Using IMPS Service in SBI
- Only the Mobile Banking customers can transfer receive money by using SBI IMPS Service.
- All Customers can Receive funds using IMPS Service in SBI.
- For receiving money through IMPS, your mobile number should be registered with the Bank.
- For receiving money through IMPS, you must share your Mobile Number and MMID with the person sending money to you.
How to Transfer Money through IMPS in SBI ? (By using the Mobile Application based service)
- Open the Mobile Banking Application in your Smartphone.
- Select Funds Transfer > Select Mobile to Mobile Transfer (IMPS) >Enter mobile number of the payee > Enter MMID of the payee > Enter purpose (optional) >Enter amount > select account to be debited
- Choose OK
- Enter MPIN
- Choose Confirm and send the request.
How to Transfer Money through IMPS in SBI ? (By using the USSD based service)
If you are using the USSD based service, you may choose the IMPS option 7 after signing in and follow the steps given below :
- Please enter the Mobile Number of the Payee
- Now enter the MMID of the Payee
- Now you must enter the purpose of the transaction.
- Please enter the Amount
- Enter the MPIN and complete the request
How to Transfer Money through IMPS in SBI ? (By using the SMS Banking service)
If you are using SMS Banking Service, you can send the message(SMS) in following format :
< IMPS >< Mobile No >< MMID >< Amount > < User ID >< MPIN >< Purpose(Optional- 20 Char)>
to 9223440000 for making money transfer through IMPS.
By using any of the 3 options mentioned above you can transfer money through IMPS in SBI.
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