Visa Money Transfer - FAQ
- What is VISA Money Transfer?
- VISA Money Transfer is a special service that allows you to transfer money online from your SBI account to any VISA Debit or Credit Card issued in India.
- VISA Money Transfer is so quick, simple and a convenient alternative to Demand Drafts, cheques or pay orders.
- How do I need to use the VISA Money Transfer service?
- VISA Money Transfer is an online service and requires an Internet Banking enabled account with State Bank of India.
- To use the VISA Money Transfer service just log on to OnlineSBI.com using the Internet Banking Username and Password, provided by State Bank of India.
- Does the VISA Money Transfer service require any registration?
If you have registered yourself for the Internet Banking service, you can use the VISA Money transfer service free of cost. You only need to register the Payee name and card number before transferring funds online.
- How do I register Payee Details?
- Click the Manage VISA Money Transfer link in the Profile tab. Authenticate yourself with the Profile Password.
- You can view a page to register the Payee Name and Card Number. Provide these details and set a nickname for your Payee.
- Optionally you can set a transaction limit for this Payee. The Bank sets a per day limit of Rs.50,000/-, which is the default limit for all Payees.
- On registration you will receive a high security password in your mobile number. This is done basically to double check your identity. Provide the password to authorize the Payee. After a payee is authorized you can start transferring funds to the Card.
- Why do I need to provide my Mobile Number for the VISA Money Transfer service?
- OnlineSBI is a secure and safe channel to transfer money online to VISA debit or credit cards. But to ensure that Payee registrations are authenticated, we will send a high security password to your mobile phone.
- Registration is complete only when the system verifies your identify with this password. Hence you need to mandatorily register your mobile number with us.
- Is the VISA Money Transfer Service safe?
- OnlineSBI is a secure and safe channel to transfer money online. All your interactions with the Internet Banking site are encrypted using 128 bit encryption technology. Your transactions are performed in extremely safe and secure settings.
- From your side, ensure that you follow the basic guidelines for safe Internet Banking. These include: never sharing your username or password, and having a password that is a combination of upper and lower case alphabets, numbers and special characters. Keep changing your login and profile passwords at regular intervals.
- To close an Internet Banking session, ensure to close the browser window.
- How do I transfer funds to a VISA card?
- To transfer funds to a VISA credit or debit card, register the Payee name and card number.
- Select the VISA Money Transfer link in the Payments and Transfers tab, select the Payee, and enter the amount you wish to transfer. That is all you need to do!
- Can I pay my credit card bills using VISA Money Transfer service?
Yes you can pay your visa credit card bills using the VISA Money Transfer service. Register the credit card number for which you wish to make a payment.
- How long does it take to credit the Payee?
It will take about 2-3 working days for the VISA system to transfer funds to the Payee. However State Bank of India is not responsible for the period within which the beneficiary bank will credit the funds to the beneficiary card.
- What details do I need to know about the Payee?
You need to know the Payee's 16 digit card number and name.
- Will I be charged for using the VISA Money Transfer service?
Currently State Bank of India is offering VISA Money Transfer as a free service.
- Can I schedule a payment?
The VISA Money Transfer service triggers a transaction as soon as you confirm a payment. It may take about 2-3 working days for the amount to be credited to your Payee. Currently you cannot schedule a payment for a future date.
- What is the per day limit for VISA Money Transactions?
You can define the per day limit for VISA money transfer to each Payee that you register. This limit must be less than or equal to Rs.50, 000/- which is the per day/per Payee limit set by the Bank for such transactions.
- Can I modify or revoke a payment once it is initiated?
No. Any payment initiated on the current date, cannot be stopped. You cannot modify the amount or Payee name once you have made the payment.
- What are the benefits of the VISA Money Transfer Service?
- Free of Cost till March 31st 2008.
- Convenience of transferring funds in the comfort of your home or office via OnlineSBI to any VISA Debit or Credit Cards issued in India.
- Fast mode of transfer as funds get credited to your Payee's card as quickly
within 2 to 3 working days from date of transfer. The service is must faster than sending a Demand Draft, or Cheque and encashing the same.)
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