You don’t have to go to your State Bank branch to transfer funds (money) to your friend of relative, nor do you need to have an Internet Banking account. You just need a State Bank ATM card (for example, SBI ATM card or SBH ATM card).
You can transfer money from your ATM card (that is your Bank account linked to your ATM card) to:
1.Another State Bank ATM card (Card to Card or C2C)
2.A Visa branded Credit or Debit card (Visa Money Transfer, VMT)
3.A Master card branded Credit or Debit card (Master Card MoneySend)
In case of Visa or MasterCard, that card must not belong to any State Bank group Bank.
Similar: Axis Bank Instant Mobile Transfer
How to send money
1.To send money from your ATM card, go to any State Bank ATM centre, insert your ATM card, select Transfer, and enter your ATM card pin.
2.Now select the type of card the recipient has (from the above three types of cards)
3.Now enter the recipient Card number (this is the longest number present on the recipient’s card, you should first ask the recipient for this number)
4.Re-enter recipients Card number
5.Enter amount to transfer (be sure that you account has sufficient funds first)
Now, you’ll get a transaction slip indicating the Card number, Transaction number, amount transferred, your account number, date, time and ATM id.
Charges for funds transfer
For C2C transfer, there are NO charges at present.
If it was a VMT, a Rs.20 charge will be levied on the sender and in case of MoneySend, the charge is Rs.20 for transfer up to Rs.25000 and Rs.30 for above Rs.50000.
The daily sending limit for all the three types of transfers is Rs.50000.