mCash – Pay by Contacts - Customer Care

SBI YONO Lite users can now transfer funds to a third party without registration of beneficiary by entering beneficiary mobile number or email-ID. Users can create mCash for a particular beneficiary using the link “mCash” available under “Fund Transfer” menu. A nominal charge of Rs. 2.50 per transaction has been made applicable for each transaction.

At the beneficiary/receiver end, the recipient needs a Bank account, not necessarily with SBI. The recipient will receive a link in the SMS or email based on the medium chosen by the sender. An 8-digit passcode will be provided in the communication which is required to be used on the State Bank mCASH link available on pre-login of Online SBI or by downloading State Bank mCASH mobile App (Android Platform) to claim the funds. Beneficiary is required to enter the Account Number, IFS Code, 8-digit Passcode, Mobile number or Email address in the fields provided and funds are transferred “Real time” via fund transfer functionality or IMPS facility for interbank transfers.

State Bank mCASH app (available on Google Play) has been provided with two options; “Claim: and “Favourites”. In “Favourites” section, customers can store account number and IFSC code (maximum 5 accounts) for future claims.