SBI Instant Money Transfer (SBI IMT) On ATM

SBI has recently launched hassle free payment transfer system called "IMT" (Instant Money Transfer) using ATM and beneficiary's mobile number. SBI account holder can transfer fund upto Rs, 10,000/- to anyone residing in India having a valid Indian mobile number. This unique service - IMT - allows instant money transfer avoiding third party's service and commissions. The beneficiary can receive money through an SBI's IMT enabled ATM without using a card.

1. Features of SBI IMT Money Transfer

  1. SBI customer can instantly transfer funds to anybody anywhere anytime having a valid Indian Mobile number.
  2. Only the beneficiary’s mobile number, name and address are required to be known to the sender.
  3. The registration of the beneficiary by the sender is carried out by the system. Hence, the sender need not provide the name and address for recurring payments.
  4. The beneficiary can withdraw money from select State Bank Group ATM with no Debit Card.
  5. An IMT once created cannot be cancelled by the sender.
  6. The beneficiary has to withdraw the whole amount in a single transaction, i.e. no partial withdrawals are allowed, at present.

2. How to Register and Unregister for SBI IMT Money Transfer?

Customers creating IMT using ATM will be required to provide the name and address of the beneficiary via SMS to 567676.

  1. IMT Register: Send SMS to 567676 in the format: BREG<space><mobile number>+<Beneficiary Name>+<Location>+<Pincode>. Eg.: BREG 9912345678+ANOOP+Nerul+400706
  2. IMT Unegister: Send SMS to 567676 in the format: UNREG<space><mobile number>. Eg.: UNREG 9912345678. Unregister requires only mobile number which is already registered; Name, location and pincode not required.

3. Threshold Limits of IMT Money Transfer

Yous hould initiate transaction with minimum of Rs. 100/- and multiples of Rs. 100/- thereafter upto maximum of Rs. 10,000 per transaction subject to the monthly cap of Rs. 25,000/- per month per beneficiary. A user can send maximum amount in a calendar month is Rs. 50,000/- and upto 10 beneficiaries per sender.

4. Service Charge of IMT Money Transfer

Sender has to bear the transaction charges which is Rs. 25/- per transaction. There will be no charges at the beneficiary end.

5. Validity of the IMT Money Transfer Transaction

After completion of the transaction by the sender, the beneficiary has  to withdraw full amount within next two days, ie., transaction day plus another 2 days. After this period, the whole amount will be automatically refunded back to sender's account automatically. IMT transaction charges will not be refunded in any case.

6. How to Send Money Through IMT Money Transfer - Step-by-Step Guide?

  1. Register Beneficiary number as explained as in section 2
  2. Visit IMT enabled SBI group ATM
  3. Swipe card
  4. Select transfer option
  5. Enter debit card PIN
  6. Select IMT option
  7. Select IMT Initiate
  8. Enter beneficiary mobile number-10 digits
  9. Enter your mobile number-10 digits
  10. Enter sender code-4 digits (to be shared only with beneficiary)
  11. Re-enter sender code
  12. Enter amount (in multiples of Rs. 100/- and max Rs. 10,000/-)
  13. Select YES or NO on confirmation screen
  14. Select account type - Savings / Current
  15. After successful IMT initiation a 15 digit IMT ID will be generated and a 4 digit SMS code will be sent to Beneficiary mobile number.

7. How to Withdraw Money Through IMT Money Transfer - Step-by-Step Guide?

  1. Once beneficiary received SMS code, visit any State Bank Group ATM having IMT facility.
  2. Use bottom right FDK / touch screen in idle screen of the ATM against IMT logo
  3. Enter Beneficiary mobile number
  4. Enter sender code
  5. Enter SMS code received on mobile
  6. Enter amount (Full IMT amount, partial withdrawal not allowed)
  7. Select YES or NO on confirmation screen
  8. Collect the cash.

How to Know the Status of IMT Money Transfer - Step-by-Step Guide?

  1. Select transfer option
  2. Enter debit card PIN
  3. Select IMT option
  4. Select IMT status Enquiry
  5. Enter 15 digit IMT ID
  6. Select account type - Savings / Current

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