Table of Contents
- Features of mobile banking using WAP/App:
- SBI Mobile Banking Registration
- SBI Mobile Banking Login
- How to Reset SBI MPIN?
- SBI Mobile apps
- SBI fund transfer options
- SBI NEFT, RTGS, IMPS – Timings, Charges and Limits
- Benefits of using SBI Mobile Banking
- SBI Mobile Banking: Security Measures
- SBI Mobile Banking: Do’s and Don’ts
Mobile banking has simplified our financial tasks by providing most banking-related services through mobile devices such as a smartphone, tablet, laptop, etc. The advent of mobile banking has made processes such as money transfers, payments, balance enquiries, deposits, etc. possible right from the comfort of your homes.
State Bank of India offers mobile banking to its users via State Bank FreedoM, which enables its customers to enjoy anytime, anywhere banking. The Mobile Banking Service provided by SBI can be used either via an Application/WAP (Wireless Application Protocol), SMS, or via USSD (Unstructured Supplementary Service Data).
The various modes of mobile banking through State Bank Freedom are:
- Application or WAP (Wireless Application Protocol)
State Bank of India allows its customers to use mobile banking on their phones using an application or WAP. To use this service, you must either be using an Android mobile phone, iPhone, or have a java enabled phone. GPRS is not mandatory to use this service. All you are required to do is download the application on your phone to start using State Bank FreedoM. Alternatively, if you can also use this service on your phone through WAP, with or without java, having a GPRS connection.
Savings account as well as current bank account holders belonging to the P segment and current account holders in the SME segment are eligible to use this service. The service can be availed by any account holder irrespective of the telecom service provider being used. There are no additional charges for the service, however the customer must bear the GPRS and SMS cost. The daily transaction limit using this service is Rs.50,000, while the monthly limit is Rs.2,50,000.
Features of mobile banking using WAP/App:
- Cheque book request
- Demat Enquiry
- Balance enquiry
- Request for mini statement
- Transfer of funds within and outside bank
- DTH or mobile top-up
- IMPS (Immediate Payment Services)
- Merchant payments (M Commerce)
- Postpaid bill payments
- ATM or branch locator
- SBI Life Insurance premium
- Railway ticket booking using IMPS through IRCTC portal
- Instant opening or closing of FDs and RDs
State Bank of India allows you to use mobile banking using your phones over an SMS. To use a particular service, the accountholder must enter the keyword corresponding to the service, and SMS it to 9223440000. Given below is the list of keywords:
- Prepaid Mobile
- IMPS Merchant payments
- Enquiry Services – Mini Statement/Balance Enquiry
- DTH Recharge
- MobiCash wallet Top up
- IMPS Fund transfer – Account Number & IFS Code, Mobile Number & MMID
All savings or current bank accountholders in the P segment and current account holders in the SME segment are eligible to use this service. This service is free of charge, however SMS charges are to borne by the user. Accountholders are instructed to delete the messages as a precaution. The daily transaction limit usage for this service is Rs.1,000 and monthly transaction limit is Rs.5,000. However, there is an option to increase the daily limit to Rs5,000 and monthly limit to Rs.25,000 by using an OTP.
- USSD (Unstructured Supplementary Service Data)
SBI accountholders can also use the mobile banking service over USSD, available on all phones barring CDMA phones. To avail the service, all you need to do is dial *595#. Using this service, accountholders can avail services such as mobile top up, funds transfer, and enquiry services.
SBI Mobile Banking Registration
To register for SBI’s mobile banking services, follow the steps mentioned below:
Using a mobile phone:
- Send an SMS the code ‘MBSREG’ to 9223440000/567676 to get your user ID and default MPIN.
- Along with the credentials, you will also receive a link to download the mobile banking application. You can also download the app directly from the app store.
- After downloading the app, you can log in using the credentials provided.
- Once you are logged in, change the MPIN to any other 6-character code of your choice.
Using an SBI ATM:
- Visit your nearest SBI ATM
- Select the option ‘Mobile Registration’ and enter your mobile number
- Confirm the mobile number
- After confirmation, you will receive an activation SMS
- After receiving the SMS you can use SBI’s mobile banking services
At SBI’s branch:
- Visit your SBI Home branch and fill up the registration form.
- After providing all the necessary details, your mobile banking services will be activated
SBI Mobile Banking Login
Follow the steps mentioned below to log in to SBI’s mobile banking services:
- Download SBI’s mobile banking app
- Enter your username and password
- Click on the ‘Submit’ option to proceed with the login process.
- If you are a new user, you can click on ‘New User Registration’ to register with the services.
How to Reset SBI MPIN?
Once you have logged in using the user ID and MPIN, it is important to change the MPIN. To do so, you can follow the steps mentioned below:
- Change MPIN using mobile app: Once you have logged into SBI’s mobile app, select the ‘Settings’ option from the menu and click on ‘Change MPIN’. You will have to enter the current MPIN in the ‘Old MPIN’ field and enter a new code in the ‘New MPIN’ field. You will receive a confirmation message for the same.
- Change MPIN through WAP: To change your MPIN through WAP, visit SBI’s online portal through your mobile browser. Enter the login ID and MPIN. Select the ‘Settings option’ from the menu, after logging in. Enter the old MPIN and the new MPIN. You will receive an SMS to confirm the change of your MPIN.
- Change MPIN through USSD: Start the USSD session. Enter 4 to change MPIN. A screen will appear stating the terms and conditions of changing your MPIN. Accept the terms by sending 1. Enter your old MPIN and the new one. After changing the MPIN, you will receive this text “Your MPIN is changed.”
SBI Mobile apps
Mentioned below is a list of mobile apps offered by SBI
|SBI Anywhere Corporate||
|SBI Secure OTP||
|BHIM SBI Pay||
SBI fund transfer options
There are various modes of fund transfer that SBI account holders can avail. They are:
NEFT or National Electronic Fund Transfer system is available for use by SBI’s users. This mode of electronic fund transfer works on DNS (Deferred Net Settlement) basis at specific times of the day. In this system of fund transfer, the transaction is carried out between banks through payment instructions. There is no set limit for NEFT transactions.
RTGS or Real Time Gross Settlement is a system where funds are transferred at real time based on transfer instructions received. It is referred to as gross settlement as the funds are settled individually as per instruction. It is the fastest mode of interbank money transfer in India.
Immediate Payment Service or IMPS is an instant electronic fund transfer used for interbank transactions. This service can be availed through your mobile phone as well as channels such as internet banking, ATM, etc. SBI provides IMPS facility to its customers who are registered for using online SBI services.
SBI NEFT, RTGS, IMPS – Timings, Charges and Limits
|Up to Rs.10,000||Rs.2.50|
|Up to Rs.1 lakh||Rs.5|
|Above Rs.1 lakh to Rs.2 lakh||Rs.15|
|Above Rs.2 lakh||Rs.25|
RTGS Timings and Charges
|9:00AM to 12:00PM||Rs.2 lakh to Rs.5 lakh||Rs.25|
|Above Rs.5 lakh||Rs.51|
|12:00PM to 3:30PM||Rs.2 lakh to Rs.5 lakh||Rs.26|
|Above Rs.5 lakh||Rs.52|
|3:30 PM to 4:30PM (Weekdays)||Rs.2 lakh to Rs.5 lakh||Rs.31|
|Above Rs.5 lakh||Rs.56|
Benefits of using SBI Mobile Banking
- State Bank FreedoM, the mobile banking services of SBI gives you the advantage of anytime banking through your phone.
- It is available to all SBI customers with an operating savings bank or current account.
- SBI Mobile Banking services are absolutely free of charges, except he SMS charges.
- It is a safe and secure process.
- There are a number of services that can be availed through State Bank FreedoM.
- There is no need of registration with any specific service provider as it can be availed across all service providers.
- SBI is planning on adding services such as movie tickets, air, or train tickets through State Bank FreedoM.
SBI Mobile Banking: Security Measures
If you are using State Bank Freedom, some of the security measures are:
- In case your phone is misplaced or stolen, your account is still safe as there is no information saved on your SIM card or mobile phone. You can also call customer service in case of misplaced phone to report the theft deactivating your IPIN.
- In case you enter your IPIN incorrectly a number of times consecutively, SBI blocks the pin.
SBI Mobile Banking: Do’s and Don’ts
Following are the Do’s and Don’ts while using SBI Mobile Banking:
- It is preferable that your mobile phone is secured by a unique password, only known to you.
- Ensure you choose a strong password comprising of a mix of alphanumeric and special characters.
- Ensure you change your password on a regular basis to keep it safe and secure.
- In case of a lost or stolen phone, report the incident immediately to the bank as well as the nearest police station.
- Mobile banking is very risky as you access the services while on the move. Therefore, do not enter your details in hurry for any kind of transaction.
- Never share confidential information in any other website, other than the registered bank’s app.
- Do not share any banking information on your phone.
- In case of change in your mobile number, do not forget to inform the bank immediately.
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GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.