In our previous article, we clearly explained about how to open SBI Savings online? and How to active SBI Yono mobile application?. In this post, we will let you know about how to transfer funds through SBI yono mobile application.
About YONO SBI
As elaborated earlier, ‘Yono SBI‘ is an authorized mobile banking application of State Bank of India (SBI). It allows you to do all banking operations in a single place in very safety and secured manner. It also allows you to do other operations like Investments, Ticket booking, Bill payments, Recharges, Shopping and purchase of electronics and others.
Fund Transfer in Yono SBI mobile application
In Yono SBI mobile application, you can initiate funds transfer through NEFT, RTGS, IMPS and UPI transactions. Most preferable funds transfer for immediate settlement is IMPS option. The following are the simple steps for making funds transfer in Yono SBI mobile application.
Login to Yono SBI app
- Firstly, open Yono SBI mobile application in your smart phone. It will ask you to enter your MPIN.
- Enter your MPIN in the respective field correctly and it will move to your home page.
- Then click on the Menu option in top left corner as shown in the image below. It will display all service options available in the application.
- Then click on ‘Yono Pay‘ option as shown in the image below.
- Then, in the next screen it will display list of fund transfer options available in the mobile application
- Now click on ‘Transfer to Bank Account‘ option.
- In the next step, click on the ‘Pay a new Beneficiary‘ option. Then it will ask you to enter your Internet banking password.
- Enter your internet banking password and then click on ‘Submit‘ button.
- In the next step, It will ask you to select the Beneficiary Bank as SBI or Other Bank.
- If your are transferring the funds to other bank account (Non SBI), then select the option Other Bank as shown in the image.
- Then enter the beneficiary account details such as Name, Account Number, IFSC code, Maximum amount and Nick name in the respective field and click on ‘Next‘ button.
- In the next step, enter the transferring Amount and Remarks in the respective field and then click on ‘Pay’ button
Verify Account Details
- In the next step, it will display the account details for verification. Check whether the details are correctly entered.
- If you want to do any changes in the details then click on ‘Back‘ button. It will move to the previous section where you can make necessary changes.
- If all the details are correct then click on the ‘Confirm‘ button.
- Then you will receive an OTP to your registered mobile number. Enter the OTP in the respective field and click on ‘Submit‘ button.
- On successful validation, your funds will be transferred to the beneficiary account instantly. You will see the message ‘Transaction is successful‘ as shown in the image below.
NoteYour funds will be transferred to the beneficiary account instantly if you transfer through IMPS mode.