SBI Beneficiary Activation Time | How to Activate it

13/12/2024 Freddy activate Comments Off on SBI Beneficiary Activation Time | How to Activate it
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SBI Beneficiary Activation Time | How to Activate it

The time it takes to activate a beneficiary in SBI depends on when you approve the beneficiary:

  • If you approve the beneficiary between 6:00 AM and 8:00 PM (IST): The beneficiary will be activated within 4 hours.
  • If you approve the beneficiary after 8:00 PM (IST): The beneficiary will be activated the next day after 8:00 AM (IST).

This applies to beneficiaries added through internet banking. You can only add and approve one beneficiary per calendar day.

Keep in mind that you can only transfer funds to the new beneficiary after it is activated. There are also limits on how much you can transfer in the initial days after activation.

For the most up-to-date information, I recommend checking the official SBI website or contacting their customer support.

How to Activate it

You can activate an SBI beneficiary through internet banking or by visiting an ATM. Here’s how:

Internet Banking:

  1. Log in to your SBI online banking account.
  2. Go to “Payments/Transfers” and click on “Add/Manage Beneficiary”.
  3. Enter your profile password. This is different from your login password.
  4. Click on the “Approve” tab.
  5. Select the beneficiary you want to activate.
  6. You’ll receive an OTP on your registered mobile number. Enter the OTP to activate the beneficiary.

ATM:

  1. Visit any SBI ATM.
  2. Insert your ATM card and enter your PIN.
  3. Select “Others” and then “Internet Banking Request Approval”.
  4. Enter the 10-digit reference number you received when you added the beneficiary online.
  5. The beneficiary will be activated immediately.

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Important points to remember:

  • You can only activate one beneficiary per calendar day.
  • The activation time depends on when you approve the beneficiary (see my previous response).
  • You can transfer funds to the beneficiary only after it is activated.
  • There are limits on how much you can transfer in the initial days after activation.

If you have any trouble activating your beneficiary, you can contact SBI customer support for assistance.