April 26, 2023

State Bank of India (SBI) Mobile Banking

Mobile banking is the answer to your needs.
Let us take the example of SBI Bank's mobile banking services.

I am sure, you would be familiar with SBI Bank, given its:

  • 200 year old legacy
    • Leadership status- with a market share of 25%, an envious customer base of 45 crore, backed by an wide pan-India footprint of over 22,000 branches, 62617 ATMs.
    • A formidable overseas presence across 229 offices in 31 foreign countries.
    • In fact, it is the only Indian bank to feature in Fortune 500 list, being ranked at 236th as per 2022 listings.
Given the bank's legacy, pedigree and performance track record, SBI offers an exhaustive suite of facilities to its customers, retail and corporate across multiple channels, offline and online such as:
  • Account summary
  • Mini statement
  • mPassbook
  • eStatement download
  • e-Statement subscription
  • View Bank account details
  • Transfer funds -NEFT/RTGS/IMPS/UPI
  • Quick transfer & donations
  • Send mCash via mobile or email ID
  • Schedule transactions
  • Add/Manage beneficiary
  • Open eDeposits
  • Mobile recharge and DTH recharge
  • TDS enquiry
  • Bill payment
  • Manage/Schedule Bills
  • Submit Form 15G/15H
  • Get/Cancel MMID
  • Cheque book request/Stop cheque
All active account holders can fulfil their banking needs through your smartphone, tablet or laptop, everytime, everywhere at ease.
It is important to note that the above mentioned services are free ( except that you need to pay for SMS facility and GPRS to your telecom service provider) and come with a daily threshold transaction limit of ₹50,000, while the monthly limit is ₹2,50,000.

Let us understand in detail the registration process, channels and their nuances.

As an active account holder, you may register for these facilities through your device by :

  • Send an SMS in the following syntax through your registered number @
          ‘MBSREG’ to 9223440000/567676.
    • Your user ID and default MPIN would get generated. You will also receive a link to download your mobile banking application. Alternatively, you could download the app directly from the app store.
    • Now login to the app using your MPIN and user id.
    • After the first login, always remember to change your 6- character code MPIN.
    • You could register from a bank ATM.
    • You could begin the process by visiting your nearest bank ATM.
    • Press the tab, ‘Mobile Registration’ and enter your mobile number and press 'confirm'.
    • You will get an activation SMS upon confirmation.
    • You can now begin using these services.
    • Lastly, you could visit your branch. Fill up the form with relevant details to activate your services.

Let us now understand the various platforms that you could use to access these facilities.

Application/WAP (Wireless Application Protocol)
  • SMS
  • USSD (Unstructured Supplementary Service Data)

Application or WAP (Wireless Application Protocol)

In order to avail the app or WAP enabled services, all you need to have is an Android or iPhone, or a java enabled phone.

WAP/App suite comprises:

  • Cheque book request
    • Demat enquiry
    • Balance enquiry
    • Request for mini statement
    • Transfer of funds ( inter/intra bank)
    • DTH or mobile top-up
    • IMPS (Immediate Payment Services)
    • Merchant payments
    • Postpaid bill payments
    • ATM or branch locator
    • SBI Life insurance premium
    • Ticket booking using IMPS through IRCTC portal
    • FDs and RDs account opening and closing.

SMS

You can also avail of mobile banking services via SMS. All you need to do is type the keyword in a predetermined format and SMS @ 9223440000 from your registered mobile number.
You can avail the following services via SMS banking:
  • Prepaid Mobile
  • IMPS Merchant payments
  • Enquiry Services – Mini Statement/Balance Enquiry
  • DTH Recharge
  • MobiCash wallet Top up
  • IMPS Fund transfer – Account Number & IFSC Code, Mobile Number & MMID
It is important to note that these services are absolutely free ( except the SMS charges) to all active account holders.
Through the SMS channel, customers can transact maximum amount of ₹1000/day and
₹25,000/month.
  • USSD (Unstructured Supplementary Service Data)
Customers can access this channel, even without an internet connection, by simply dialing *595# and using services such as mobile top-up, funds transfer, and enquiry services.

Let us, deep dive, into specific mobile banking applications offered by the bank.For example: with 'SBI Anywhere'

  • Voice assisted transactions
  • Bill payments
  • UPI
  • Fund transfers
  • Recharge
  • Manage Debit card

YONO SBI

Through your debit card or net banking login details, the YONO app can be accessed.
YONO is all-encompassing app as the user can enjoy the benefits of a number of services such as:
  • Basic banking transactions
  • A consolidated link to a customer's user id across SBI's credit card, insurance, etc.
  • Pre-approved personal loans
  • One-click overdraft against fixed deposit
  • Request chequebooks, ATM cards, etc.

SBI Anywhere Corporate

  • Account details and summary
  • Bill payments
  • Fund transfer
  • Authorise e-cheque

SBI Card

  • Register for an online SBi card account
  • Account summary, transaction history, card statement, etc.
  • Flexipay installments
  • Balance transfer on EMI
  • Exclusive offers
  • Reward redemption

SBI Secure OTP

  • Verify transactions done via internet banking

SBI Rewardz

  • View rewards
  • Redeem rewards
  • Exclusive offers

BHIM SBI Pay

As the name indicates, this app provides UPI-based transaction facilities to the users such as:
  • Easy and instant payments
  • Bill payments
  • Exclusive deals

FAQs:

How do I register for the YONO app?

The registration process is fairly simple. All you need to do is:
  • Install the YONO app from Google Play or App Store on your device.
  • Now open the app and press “Yes”, if you have net banking activated.
  • You will now be redirected to the login page.
  • Just key in your net banking User ID and Password to access the Yono App.
  • Those users, who do not have net banking login details can register for YONO with their ATM card.
  • Just key in your CIG code & account details ( which is mentioned on your passbook)
  • You will receive an OTP on your registered mobile number.
  • Key in the OTP and press submit.
  • To generate a username & password, enter your ATM card number and ATM PIN.
  • Now create your own password.

What is mPIN?

Just to make it easier for the customers, mPIN features a 4-6 digit unique code that allows customers to log in and access their mobile banking services from their device without the need to key in their username and password.

How to reset mPIN?

As a good cyber security practice, always remember to change your mPIN after your first login.
To reset your mPIN, all you need to do ie:
  • Log in to the bank's mobile app.
  • Press the tab ‘Settings’ and then press the button ‘Change MPIN’.
  • Now just enter your old MPIN
  • Then the new MPIN and confirm the new MPIN and press ’Change’.
You may also change MPIN through WAP by simply:
  • Logging into the bank's web portal and entering login ID and MPIN.
  • Now navigate to the ‘Settings tab to
key in the old MPIN and the new code.
  • You get an alert SMS to confirm the change of your.

What happens to my data, sensitive data if my phone is stolen or gets misplaced?

Don't panic! as your banking credentials are not saved on your SIM card or mobile phone.
In such a scenario, immediately call your bank's customer service center and report the case to deactivate your IPIN.
Besides, for unauthorized login with an incorrect IPIN, the bank would automatically block the pin after a few attempts.

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility
Apple Logo
Downloadlogo
iOS App
Google Play Logo
Downloadlogo
Android App

RELATED ARTICLES

United Bank India Mobile Banking

- Have you run out of time to visit your bank branch to make an urgent fund transfer? - Are you looking at an alternative channel for your banking transactions which is convenient, compatible, accessible, comprehensive, easy to use,quicker, free of cost, bundled service offerings and is safe and secure. - Have you lost your network connection and yet you need to view your account balance on an urgent basis?. Mobile banking channel is the answer to your needs. Case in point being, United Bank of India ( UBI). UBI is now a part of Punjab National Bank (PNB), having merged with effect from April 1, 2020. Established in 1950 in Kolkata as a regional private bank catering to the eastern and north-eastern belt, the bank was nationalised in 1969 and over the years, the bank expanded its network of branches and asset base to become a mid-sized PSB ( Public Sector Bank) to include a network of more than 2000 branches and three fully equipped overseas branches in New Delhi, Kolkata and Mumbai. In fact, UBI is among the leading banks in the states of West Bengal, Assam, Tripura and Manipur. Backed by an asset base of ₹1.52 lakh crore ( as on September, 2019), UBI offers a comprehensive portfolio of services across multiple channels, offline and online through netbanking, mobile banking such as check balance, transfer money,make utility bill payments and much more. You can avail these services 247365, even on bank holidays, public holidays, weekends and that too, free of charge.

What is a Banking & How it Works - Meaning, Functions, & Types

Banking is an essential component of a thriving economy as it facilitates the efficient allocation of resources and promotes financial stability. The banking system in India has undergone significant transformation in recent years. These transformations have now given all individuals and businesses the opportunity to access various banking options. This article glances at how banking works. The article further gives some guidance on choosing the best bank to suit your independent needs.

SBI UPI App

- Do you seek to make cashless payments at a PoS without the need to expose your debit/credit card details? - Are you equally reluctant to share your bank details such as account number, IFSC code while making or receiving payment? - Do you seek an alternative mode of instant cashless payment without the need to set aside some funds on a mobile wallet? - Are you looking for a cashless fund transfer channel that is instant, safe, secure, economical and that can be accessed every time, everywhere? - Are you the ' not so tech-savvy' kind in an increasingly digitised world and are seeking a simple, easy-to-understand process to execute cashless transactions? UPI, unified payments interface is the answer to your unmet needs. With just a single-step process, by simply using your smartphone to download the mobile payment app, an account with a UPI member bank, and a virtual id of the recipient, you can send funds instantly, free of charge, every time, everywhere within India. All you need is to just enter the beneficiary's mobile number, Aadhaar number, or Virtual Payment Address (VPA) to transfer funds. Each single UPI transaction has a maximum threshold limit of ₹1 lac. Developed by NPCI, National Payments Corporation of India (NPCI), and governed by the RBI, this parent entity is the reckoning force behind accelerating the pace of retail digital payment within India.

Demand Draft

- Merchant has made full payment against the goods that he/she received, cross border. - School fees, and utility bills have been paid - You just transferred payments from one of your bank accounts to the other For such transactions and many more, a demand draft or simply, DD is the preferred choice as this bank initiated prepaid negotiable instruments, when presented by the payee, the drawee bank ensures fulfilment of the amount mentioned on the cheque. It is important to note that while the DD is payable on demand, it is not payable to the bearer. The DD is made payable on a specified branch of the bank at a specified centre and does not require signatures to be cashed. The flip side to this ease, is that, in a situation of suspicious/fraudulent payèe, you cannot disregard the payment when he/she presents it at the specific branch. The drawee bank is obligated to make full payment to the extent of the amount mentioned on the DD.