SBI bank customers can disable OTP for fund transfer as well as online payment through internet banking. You can disable one time password (OTP) up to threshold limit of 10000 for fund transfer and 5000 for online payment for a day. read the article how to disable SBI otp for fund transfer and online payment and follow each step carefully.
There are several public sector banks in India. However, SBI has been one of the largest commercial banks that has been providing financial services depending on the requirements of the customers. After the merger of the other state banks, including State Bank of Mysore, State Bank of Travancore, Bank of India, and others, in 2017, it has become one of the largest banks with many branches in India as well. You can access all the important banking facilities, including locker facilities in the different branches of the bank.
In this internet era, it is possible to transfer funds to anyone, anytime from anywhere, through a device with an active internet connection. Also, the mobile number has to be registered with the bank. If you haven’t registered to access the internet banking facility, it is high time you register and use this to transfer money from the comfort of your home. This way, you need not have to visit the SBI branch for the same. Though fund transfer through net banking has been in practice in SBI for a long time, several customers have started to use internet banking facilities to the fullest ever since the onset of Covid 19.
Internet banking is a collective term that is used to denote the process of carrying out banking operations without going out to the branch for banking operations. This will help you transfer money, start an RD or FD, view your mini statement, pay utility bills, borrow money or apply for a loan, and even use it for shopping. However, you have to visit the branch to apply for an internet banking facility. They will activate the same and provide you with the user ID and password to carry out the operations. But, now, banks make it possible for you to generate the user ID and password using your debit card online. However, one aspect that you have to note is that you should have your mobile number registered with the bank. This is because you will get an OTP to generate the same online.
Transferring money with OTP
When you use internet banking for fund transfer, you will receive an OTP. This is a security measure to ensure that you are making the transfer and it is not a transaction made by unauthorized persons. You will receive this OTP on your mobile number, which is registered with the bank. Only when you type or copy the OTP you receive in the space provided will you be able to make the transaction. However, in SBI net banking, you will be able to transfer up to Rs.10,000 from your account to the account of a beneficiary without an OTP. Beneficiary here refers to a person to whom you are transferring funds for some reason. To transfer up to Rs.10,000 per day without OTP, you have got to
disable OTP for fund transfer
SBI- Fund Transfer without OTP
Fund transfer can be done only to persons who are added as beneficiaries. Therefore, ensure that you have added the persons you might send money or want to send money to. In such a case, you can transfer up to Rs.10,000 without an OTP to a registered beneficiary. However, let us consider the steps involved to carry out the fund transfer without OTP.
The steps involved in transferring money to the registered beneficiary without OTP include
- Visit the SBI official website.
- Log in to the internet banking facility.
- Once logged in, click on the My Accounts and profile section. Also, open the Profile section.
- This will take you to a new screen. Click on the High-Security Options bar there.
- Then enter the Profile Password.
- You will then move on to the next screen. There you will find YES or No options. Select the NO option. Choose no option for
- Inter & Intra – Bank beneficiary
- Credit card beneficiary (VISA)
- International Funds Transfer Transactions
However, OTP is mandatory for quick transfer.
- Selecting the NO option for the above-mentioned transactions means that the OTP option for fund transfer to beneficiaries is disabled.
Now, what does this mean? This means that you will be to make transactions up to Rs.10,000 done cumulatively during a day.
Deactivate SBI OTP for online Payments
Are you irritate put OTP again and again when doing online shopping , bill payments and other important work? If yes then i have a solution for your guys. You can deactivate the SBI OTP for online payments like amazon, flipkart and other online store or bill payment. This feature work only for less then 5000 transection on SBI internet banking.
You have to one extra step, just select “No” in Enable high security for merchant transactions. and you are ready to go . Happy banking with SBI.
However, fund transfer without OTP is not possible through mobile banking. You have to log in to internet banking only to avail this feature. However, you do have an option to receive SBI Secure OTP on the app instead of the registered mobile number. This can be done by using SBI secure OTP application.
Follow the above-mentioned steps to transfer funds to the registered beneficiary without OTP.
Must read : How to lock/unlock SBI YONO Application
I have sole motto to help SBI bank user to resolve most of there problem online, no need to visit SBI branch and waiting in link for one small work. So if you have any problem related to SBI bank just comments below .