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SBI UPI Money Transfer through YONO Lite Mobile Banking

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For UPI money transfers, SBI clients do not require the use of a third-party application. You can use SBI Mobile Banking SBI YONO Lite to send money immediately via UPI. With the UPI transfer feature in SBI YONO Lite, you could send up to 1 lac to any bank account.

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UPI (Unified Payment Interface) is a real-time payment system that allows you to send money to every bank account. YONO Pay has a section dedicated to BHIM UPI.

Advantages of SBI Pay

  • Cashless Payments: The primary objective of this app is to encourage people to adopt digital payment methods instead of cash. Customers can also send and receive money through the SBI PAY app.
  • Secure and dependable: In this payment system, the danger is almost non-existent.
  • No restriction: The SBI Pay app is supported by the Reserve Bank of India, making it a very safe app to use.
  • There are no limitations: A fund transfer could be initiated at any time of the day or night, 365 days per year.
  • Speedy service: SBI Pay is a quick, cost-effective, and hassle-free solution that enables transactions online in the nation.

The Unified Payments Interface (UPI) of the State Bank of India (SBI) is a payment method or solution that allows funds to be received and delivered using the BHIM SBI Pay APP. All SBI clients and those with accounts at other UPI-enabled banks can use this service. A Virtual Payment Address (VPA) or account information and Indian Financial System Code could be used to transfer funds (IFSC).

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The VPA functions as a virtual identifier and is commonly used as a virtual id. The National Payments Corporation of India (NPCI) introduced UPI, and the Reserve Bank of India oversees the payments system (RBI). The National Payments Coordinating Institute (NPCI) supervises all retail payments within the nation to ensure a smooth and efficient flow of digital payments via a mobile application. Users can quickly evaluate this service by installing the SBI Pay app on their smartphones.

How to Register for SBI UPI

Step 1: Go to the Google Play Store and download the SBI UPI app.

Step 2: Confirm the registered mobile number by SMS post the download is complete. This must be the same phone number on file with your bank.

Step 3: After receiving the SMS, the app automatically validates the phone number.

Step 4: Fill in your ‘Virtual Address,’ ‘Last Name,’ ‘First Name,’ and ‘Email’ to start the registration process. Select the appropriate bank by answering the hidden question.

Step 5: Post accepting all terms and conditions, click the ‘Next’ button.

Step 6: Select a bank account and then click ‘Register.’ Make your password six digits long.

Step 7: Set an m-PIN by entering your debit card details and verifying it in OPT.

Step 8: The relevant mobile number shall receive a registration confirmation message.

UPI Money Transfer with SBI YONO Lite Mobile Banking

Step 1: Sign up for an account using the SBI YONO Lite application. Choose “UPI Transfer” out from the drop-down option after logging in.

Mobile Banking for SBI UPI Money Transfer

Step 2: Select “Make Payment” from the drop-down menu.

Mobile Banking for SBI UPI Money Transfer

Step 3: You’ll notice two UPI money transfer possibilities on the next screen.

Mobile Banking for SBI UPI Money Transfer

  1. Pay To VPA (UPI ID): If you understand the beneficiary’s UPI ID, choose this choice and enter his or her UPI ID to transfer funds to their bank account.

Choose your bank account, get into the beneficiary VPA (UPI ID), and enter the amount.

Mobile Banking for SBI UPI Money Transfer

You’ll see the beneficiary’s (account holder’s) name; if the information is valid, click Confirm.

Mobile Banking for SBI UPI Money Transfer

Next, confirm the transaction by entering the OTP. The UPI transfer would be successful once you enter the OTP and the sum, which would be deposited to the beneficiary account.

Mobile Banking for SBI UPI Transferring Money

  1. Transfer to the account number and IFSC code: When you don’t have the recipient’s UPI ID but know his or her bank account number and IFSC code, you could add his or her checking account as a beneficiary as well as move funds to it.

You must first add their bank account details as a beneficiary, which you may do under the fund transfer area of Mobile banking.

Choose Pay to Account No. & IFSC from the drop-down menu

Choose your account number and an additional beneficiary on the next screen, input the amount, and submit. Authenticate your transaction by entering the OTP.

Is it possible to transfer money through my SBI account using UPI without a UPI PIN or a debit card?

Yes, if you have SBI mobile banking (YONO Lite) installed on your phone, you could transfer money using UPI without entering a UPI PIN. All you have to do now is confirm your purchase using an OTP.

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