- What is the change in the beneficiary addition process?
Now you can add and approve only one beneficiary in each of the following categories: Intra-bank, Inter-Bank, VISA, State Bank Group and IMPS in a calendar day, which will be activated by the internet banking system within 4 hours, if approved by you during the period from 6.00 AM to 8.00 PM (IST). Beneficiary approved after 8.00 PM will be activated on the next day after 8.00 AM (IST). You can commence funds transfer to the new beneficiary only after its activation. During the first 5 days after activation, you can transfer a total of Rs. 50,000 to a new beneficiary if activated by the system. You can transfer up to full limit (please refer Transaction limit / Charges) in a day if beneficiary is activated by your home branch or if activated using IRATA (Internet Banking Request Approval Through ATM).
- What is IRATA?
IRATA stands for Internet Banking Request Approval Through ATM. It is a highly secure method of instantly approving an internet banking request that hitherto would have required a visit to your home branch. To use IRATA, generate the IRATA reference number and follow these simple steps:
. Go to a State Bank Group ATM in India.
. Swipe your ATM card which is linked to an account that you can view in your Internet Banking login and enter your card PIN
. Choose 'Services' and then choose 'Net Banking Request Activation' option.
. Enter the 10-digit INB reference number
- Can a new beneficiary be activated immediately with full limit for transfer of funds?
If you wish to activate the beneficiary immediately with full limit, you will have to choose the branch activation or IRATA option. If you choose the branch activation option, the duly signed form will have to be submitted to your home branch for immediate activation with full limit for transfer of funds. If you choose the IRATA option, you will have to activate through a State Bank Group ATM in India.
- What if I want to add more than one beneficiary in a day?
You can add and approve a new beneficiary if the previous request for beneficiary activation was processed through your branch or by using IRATA. If previously added beneficiary was activated by the internet banking system within 4 hours(i.e. by using OTP), then the limitation of only one beneficiary addition in a calendar day will be applicable.
- How will I come to know that the beneficiary added by me has been activated?
You will receive a confirmation SMS advising activation of your beneficiary on your Internet Banking registered mobile number.
- Can I transfer funds to beneficiary up to the daily limit of Internet Banking immediately upon activation?
During the first 5 days after activation, you may not transfer more than Rs. 50,000 in the aggregate to the beneficiary added by you. Thereafter, the full per day limit, as set by you, subject to maximum of Rs. 5 lakh, will become available.
Example: If a beneficiary is activated by Internet Banking system on Monday, till Friday, you will be able to transfer a total amount of Rs. 50,000 to this beneficiary. From Saturday onwards, you will be able to transfer up to Rs. 5 lakh to this beneficiary per day.
Full limit will available for beneficiaries that are activated through the branch or using IRATA.
- Can I get my newly added beneficiary approved or activated over phone call/ e-mail to Bank or Bank's representative?
No. Such requests will have to be made in writing under your signature, and submitted to the branch which has given Internet Banking to you.
Alternatively, you can use a State Bank Group ATM in India for activating the beneficiary.
- Can I approve the newly added beneficiary without One Time Password (OTP)?
Yes. If you do not have a mobile number registered for Internet Banking or you have not received the OTP for approving new beneficiary, then you can click on "Click here to make a request to the branch" for branch approval under "Approve" tab itself. The duly signed form needs to be submitted to the Branch for beneficiary activation. The activation of the beneficiary will be instant and cooling period of 5 days will not be applicable, if approved by the branch. You may also approve such beneficiaries without having to visit a branch by using IRATA.
- Can I schedule a transaction for a new beneficiary immediately upon activation?
You cannot schedule a transaction for a new beneficiary for five days from the date of activation. For branch or IRATA approved beneficiary, transaction can be scheduled instantly.
- After I added a beneficiary, I got alert messages (SMSes) about it for several days?
This is a security feature and is intended to protect the interest of our customers. If you did add the beneficiary, you need not take any action. We regret any inconvenience that these messages might have caused you, but sending these messages is in the best interest of our customers.If you did not add the beneficiary, please immediately lock access to your Internet Banking. The access locking button is available on the lower, left side of the home page.
- During the first five days after activation, I tried to send NEFT remittance to a beneficiary during off hours for NEFT, but within the limit of Rs. 50,000? The error message that I get is that I cannot schedule a transaction. Why am I getting this error message?
NEFT is not a 24 x 7 service; it is available only during certain hours of weekdays. If you attempt to send NEFT remittance at a time when the service is not available, the system treats it as if the remittance is being scheduled and does not permit it.This limitation is not applicable if the beneficiary is activated using a branch or IRATA.