Modify SBI Inter-Bank Beneficiary For RTGS & NEFT

Published by: Alex George on February 17, 2016
To complete online money transfer using either RTGS or NEFT in your State Bank of India net banking account, the first step is to add the account details of the person to whom you are sending money. Once the details are added under Inter-Bank Beneficiary list, you can start sending money to his/her account. However, it is possible that you might have entered wrong details while adding the beneficiary details. SBI allows users to either modify or delete a beneficiary if the user finds the details incorrect. This article explains how to modify or delete beneficiary on SBI account within few minutes. The same procedure can be followed if you are seeing you have reached the maximum number of beneficiaries in your account while adding a new one.

Step By Step Instructions To Delete Beneficiary in HDFC Bank

Steps to Add a Beneficiary in State Bank Net-banking Account

  1. Visit the SBI Netbanking login Link and enter NetBank username and password.

    https://retail.onlinesbi.com/retail/login.htm

  2. Click on Profile from the top menu. You can see the picture below.



  3. Click on Manage Beneficiary


  4. You will be asked to enter the profile password to proceed


  5. Now you should select the beneficiary category from the list. It is important to note that there is certain restrictions while adding a beneficiary in SBI account. You can add only one account per day in each category.


    There is a different category for different functions.


    • Intra Bank Beneficiary: If you are planning to add a person who is having an account on State Bank of India, you should choose this category.

    • Inter Bank Beneficiary: If you want to Send RTGS of NEFT to another bank account holder, for example, ICICI Bank or Canara Bank, you should click on this category to add him as beneficiary.

    • State Bank Group Beneficiary: In the same way if you are adding a person having an account on any associated banks of State Bank of India like State Bank of Hyderabad, State Bank of Mysore or State Bank of Travancore, you can use this category.

  6. Click on Add button to add a beneficiary account


  7. While Adding beneficiary, you can set the maximum limit of the amount that can be transferred in one transaction. If you want to change the maximum limit, you must click the view button next to the Add button.


How to Delete a Beneficiary Account From SBI Netbanking

  1. To remove a particular beneficiary from State Bank of India Netbaking account, you should follow the steps from 1 to 5 and then click on Delete button.


  2. Select the Account you want to remove and click on 'Show Details' button

  3. Click on the delete button


  4. You will be asked to confirm the deletion


    Click OK to proceed.

Step to Modify SBI Inter-Bank Beneficiary

  1. Follow Steps 1 to 5 and click on the Modify button.

  2. Now you can view all the beneficiaries added in your account. Select the one you want to edit and click 'Show Details' button.


Update:

This article does not count the after effects of demonetization of Rs 500 and Rs 1,000 notes and recent Reserve Bank's instructions to limit the transactions using Jan Dhan accounts opened. There are restrictions over the amount which can be deposited in Jan Dhan accounts after 8 November 2016 on the war against legalizing black money in India using those accounts. One of the easiest way adopted by black money holders to legalize their black money was to deposit unaccounted money (old 500 and 1000 notes) to Jan Dhan accounts and withdraw in the form of new currency notes. This movement forced Reserve Bank to strictly monitor the Jan Dhan accounts transactions. In addition to this, there is a restriction over daily withdrawal (not online transaction) in the form of currency to limit the possibility of exchanging old 500 and 1000 Rupee notes with new currency notes.

Further Readings

10 comments:

  1. Ramaswamy Iyer10:42 AM

    Thank you for such a helpful post. I wanted remove a few person's account numbers added in SBI beneficiaries and I wasted a week to check how to remove them from beneficiary list. Thanks to you I have removed them.

    ReplyDelete
  2. Sravanthi Reddy6:37 AM

    How to Change SBI Savings Account as Salary Account SGSP of State Govt Employees and Teachers-Download Request Letter < href="http://www.tsteachers.in/2017/08/ap-ts-how-to-change-sbi-savings-account-to-salary-account-download-request-letter-for-sgsp-state-bank-of-india.html >https://goo.gl/HXJVwS

    ReplyDelete
  3. Not able to delete beneficiary account as per guidance. Every time it says Failure. Even if I try to modify the error in the Name it does not permit me as I have got limit attached.Please advise.

    Pradip Sarma
    Delhi

    ReplyDelete
  4. Unable to delete Beneficiary from the account as per your guidance. Every time when I click OK it displays the word "FAILURE" Please advise

    ReplyDelete
  5. @ P Sharma

    How many times you have tried to edit the beneficiary name ?

    Have you received any specific error message other than failure notification ?

    ReplyDelete
  6. SAME PROBLEM AS THAT OF MR PSHARMA, ANY LEADS PLEASE?

    ReplyDelete
  7. Same problem as that of MrP Sharma

    ReplyDelete
  8. @ jdabbiru

    If you are unable to delete any beneficiary online, I suggest you to contact SBI help desk.
    You can try any one of the phone numbers. 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990

    ReplyDelete
  9. I tried many times to change the maxium limit in online sbi.but still not in progress.what i have to do for changing the transfer limit.pls reply

    ReplyDelete
  10. What is the current maximum beneficiary money transfer limit you have set?

    ReplyDelete

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