Banking Technology for Common Customer

Internet Banking-5 , Transfer funds to third party account held in the same Bank i.e SBI

To cut off risks from online banking, SBI follows 8 Golden Rules to make Internet Banking experience safe and secure.

  • The password to be changed at regular intervals
  • Report SBI about any incidents of frauds (phishing) to 
  • Access portal by typing https://www.onlinesbi.com. Do not click on any shortcuts/links
  • Avoid accessing one’s account from public places like cyber cafes
  • Virtual keyboard facility also available to enter user ID and Password
  • Alert about entering sensitive info in pop-ups
  • Track one’s transactions and usage history regularly
  • Use latest and genuine software on one’s system with secure settings .To know more about safe online banking, Please visit https://www.onlinesbi.com/phishing_securitytips.html

Credit Card (Visa) Bill Pay

Credit Card (Visa) Bill Pay is a special service that allows you to transfer money online from your SBI account to any VISA Credit Card issued in India. Credit Card (Visa) Bill Pay is so quick, simple and a convenient alternative to Demand Drafts, cheques or pay orders.

Credit Card (Visa) Bill Pay is an online service and requires an Internet Banking enabled account with State Bank of India. To use the service just log on to OnlineSBI.com using the Internet Banking Username and Password, provided by State Bank of India.

  • Click the Manage Credit Card (Visa) Bill Pay link in the Profile tab. Authenticate you with the Profile Password.
  • You can view a page to register the Payee Name and Card Number. Provide these details and set a nickname for your Payee.
  • Optionally you can set a transaction limit for this Payee. The Bank sets a per transaction limit of Rs.25, 000/- or a card. The per day limit for a user is Rs.50,000.( Subject to Change time to time)
  • On registration you will receive a high security password in your mobile number. This is done basically to double check your identity. Provide the password to authorize the Payee. After a payee is authorized you can start transferring funds to the Card.

Standing instructions to transfer a fixed amount at a scheduled frequency for a period

 Select “Within SBI “ if you want to create SI within SBI or you may choice ”Outside SBI” if you want create Si with other Bank.

Enter Amount

Enter Remarks

Select the Beneficiary

Under payment option-Click on Standing Instruction

Select frequency of Payment i.e month wise or daily etc.

Click on Submit

Confirm

Put the Security Password I,e OTP and Confirm

Your SI will be activated

1. What are Standing Instructions?

The Standing Instructions feature facilitates periodic scheduled payments for funds transfer, third party payment, and RTGS/NEFT/State Bank Group transactions.

2. What are the accounts on which I can register standing instructions?

You can register standing instructions on your savings and current accounts. You can register multiple standing instructions on different accounts and at different frequencies.

3. Will the bank intimate me when a standing instruction is executed successfully?

You will receive an SMS when a standing instruction is executed and your account is debited.

4. What are the transaction types for which I can register standing instructions?

Funds transfer, Third Party transfer, Inter Bank Transfer to other bank accounts, or state bank group accounts.

5. What is the frequency for which I can register standing instructions?

You can register standing instructions for 1 month to 6 months and from 5 days to 30 days.

6. Can I cancel a standing instruction?

Yes, you can cancel standing instructions, if at least one instruction is pending for execution. However, you cannot cancel a standing instruction if it is scheduled for the current date.

7. Can I view the history of standing instructions?

Yes. You can view the history of instructions executed on your accounts in the History tab.

8. Do I need to contact the branch for registering/executing or cancelling standing instructions?

No. You can register standing instructions on your internet enabled accounts through the Internet banking portal. Execution happens automatically. You can also cancel standing instructions online.

9. Is it safe to register standing instructions online?

Yes. When you register a standing instruction, the Internet banking site verifies your identity by sending a high security password to your registered mobile number. You need to key in the password to complete the registration.

10. Will I be intimated about the dates on which the instruction is executed?

Yes. When you register standing instructions, you are provided a tentative schedule with the dates on which the instructions are executed.

11. What are the precautions I need to take when I register standing instructions?

Ensure that the third party/Inter bank beneficiary name and account number are valid. Ensure that your mobile number is registered on the site. Also ensure that you have sufficient balance in your account to execute the instructions.

12. Do I need to login into Internet banking to execute standing instructions?

Standing Instructions are initiated without manual intervention. A standing instruction will be initiated on each scheduled date until the specified Number of Months/Days is over.

13. How do I record a standing instruction for beneficiaries holding accounts in the same bank or other banks?

Steps to record a standing instruction for funds transfer, third party transfer to an Intra bank third party (holding an account in State Bank of India), Inter Bank third party (holding an account in any RTGS/NEFT enabled bank including State Bank Group) are identical.

14. In which link can I register standing instructions?

You can record standing instructions in the Requests tab. You can also record an instruction in the transaction links in the Payment and Transfers tab.

15. Can I register standing instructions for a new third party account?

No. It is mandatory to add and approve the Intra or Interbank third party account before recording standing instructions for the beneficiary. ssc.

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