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Step-by-Step Guide to Adding Beneficiaries in the SBI Yono App

SBI YONO serves as a comprehensive digital platform offered by the State Bank of India, enabling customers to conveniently manage their financial affairs. While UPI transactions facilitate easy fund transfers, access to online banking remains essential.

For SBI account holders, familiarity with the SBI YONO App is crucial. This application empowers users to conduct various banking activities and access SBI services effortlessly.

YONO stands as a multifunctional digital banking platform provided by SBI, offering a wide array of financial services. Users can utilize the app for tasks like travel and hotel bookings, online shopping, bill payments, and more, accessible on both Android and iOS devices.

It’s important to note that UPI transactions have daily transfer limits ranging from Rs. 25,000 to Rs. 1 lakh per beneficiary. Should you need to transfer amounts beyond this limit, SBI YONO offers a solution. However, before initiating larger transfers online, it’s imperative to add and activate beneficiaries within the YONO SBI banking system.

The How to Add Beneficiary in Yono SBI App facilitates the addition of beneficiaries to your SBI account, enabling you to securely store their account details for instant fund transfers.

What is the Beneficiaries in YONO SBI

In banking terms, a beneficiary in the YONO SBI app refers to the individual who receives funds from a financial transaction or a bank account. Essentially, they are the recipients of transferred funds from your bank account to theirs.

For instance, if you wish to transfer INR 1,50,000 to an acquaintance’s bank account, that acquaintance becomes the beneficiary. Adding a beneficiary in the SBI Yono application ensures that your funds are accurately and securely transferred to the intended recipient.

Without adding a beneficiary in SBI Yono, there’s a risk of transferring funds to the wrong bank account. However, by adding a new beneficiary in SBI Yono, you verify all details related to the recipient’s account, including their IFSC code, bank account number, name, and bank name. This extra verification step ensures that your funds are directed to the correct bank account, enhancing the security and accuracy of your transactions.

A Guide to Adding Beneficiaries in the SBI YONO App

Managing finances has become remarkably convenient in today’s era, largely due to rapid financial inclusion efforts in India. At the forefront of this transformation is the State Bank of India (SBI) with its innovative YONO application, offering a plethora of banking and financial services at your fingertips.

Among the many features of the SBI YONO App, the ability to add beneficiaries stands out as particularly crucial for seamless fund transfers and financial management.

In this blog post, we’ll delve into the process of adding a beneficiary to the SBI YONO app, empowering users to make the most of this convenient feature for their financial transactions.

The Significance of Adding Beneficiaries in the SBI YONO App

Adding beneficiaries in the SBI YONO App offers more than just a convenient feature; it provides several valuable benefits:

Secure and Convenient Fund Transfers: With added beneficiaries, you can conduct secure and swift fund transfers. Whether it’s sending money to family members or paying bills, having beneficiaries set up streamlines the process and ensures the safety of your transactions.
Simplification of Recurring Transactions: Adding beneficiaries simplifies recurring transactions such as utility bill payments, EMI payments, and monthly transfers to family members. By eliminating the need to input recipient details each time, this feature helps prevent missed payments and saves valuable time.
Enhanced Financial Management: The inclusion of beneficiaries aids in financial management by facilitating easy tracking and monitoring of payments. This feature enables you to maintain accurate records of your financial transactions, contributing to better financial organization and planning.

Importance of Adding a Beneficiary on YONO SBI

To conduct IMPS money transfers using the YONO SBI application, it’s essential to register a beneficiary bank account on the YONO App. Upon adding the beneficiary account, it becomes activated after a period of 4 hours, allowing you to initiate IMPS transactions to the recipient’s account.

Here’s why adding a beneficiary is crucial:

Secure Transactions: By adding a beneficiary, you ensure that the recipient’s account is securely linked to yours, reducing the risk of unauthorized transfers.
IMPS Transaction Limit: With IMPS payment method, you can transfer up to 5 lakh per transaction. Adding a beneficiary beforehand enables you to make use of this higher transaction limit for swift and convenient fund transfers.

By registering beneficiaries on the YONO SBI app, you enhance the security and efficiency of your money transfers, ensuring a seamless banking experience.

YONO SBI Transaction Limits

Transaction Mode	Transaction Limit	Charges
NEFT	₹ 10 Lakh	₹ 0
IMPS	₹ 2 Lakh	₹ 0
RTGS	₹ 2 Lakh to ₹ 10 Lakh	₹ 0
Quick Transfer	₹ 25,000 per transaction	₹ 0
SBI mCash	₹ 2,202 per day	₹ 2.5 + tax per transaction
UPI	₹ 1 Lakh per day	₹ 0

You can transfer money from the YONO SBI app to any other bank within the specified limits, as governed by SBI guidelines.

How to Add a Beneficiary in Your SBI Net Banking Account for Online Fund Transfers

Log in to your SBI Online Banking account via the official website.
Navigate to the ‘Funds Transfer’ tab on the main page of your net banking account.
Under ‘Payments/Transfers’, select ‘Add/manage beneficiary’.

Note: Enter your profile password (different from your login password) when prompted.

A new page will open. Choose the type of beneficiary you wish to add (SBI beneficiary or beneficiary with an account in another bank).
Fill in the beneficiary details, including name, account number, select the IFSC code, and specify the maximum amount for transfers to this beneficiary. Click ‘Submit’ after entering all information.
Review the details on the confirmation page and confirm.
Proceed to approve the beneficiary.
Click on the ‘Approve’ tab, then enter your profile password again and select ‘Approve beneficiary’.
Choose ‘Approve through OTP’ from the options provided.
Enter the OTP received on your registered mobile number and click ‘Approve’.
You can check the status of the beneficiary addition in the ‘View’ tab.

Generally, the beneficiary will be added within 30 minutes, and you will receive a confirmation message. However, the timing of approval may affect the processing time.

How to Add a Beneficiary in SBI Yono Lite App

Download the SBI Yono Lite app and log in to your account.
Navigate to ‘Settings’ >> ‘Profile Management’ >> ‘Add/Manage Beneficiary.’
Tap the ‘Add’ icon in the right-hand corner.
From the selection menu, choose ‘Other Bank Account.’
Enter the required details: account number, limit, address (optional), and IFSC code. Then click ‘Submit.’
Double-check the information on the pre-confirm screen.
Press the ‘Submit’ button.
Enter the OTP sent to your phone and click ‘Submit.’

Once the new beneficiary is activated in the system, you can start transferring funds to them. Note the following limitations:

Within the first four days after activation, you can transfer a total of Rs 5,00,000 to a new beneficiary.
To utilize the full transaction limit set at the time of adding the beneficiary, you’ll need to choose either branch activation or Internet Banking Request Approval Through ATM (IRATA).
For branch activation, submit a duly signed form to your home branch for immediate activation with the full transfer limit.
For IRATA, activate your account at a State Bank ATM in India.

By following these steps, you can efficiently add a beneficiary in your SBI Yono Lite app and manage your fund transfers securely.

Adding an Other Bank Account Beneficiary in the SBI YONO App

Log in to your SBI YONO app using your credentials.
Click on ‘YONO Pay’ from the app’s main menu.
Select ‘Bank Account (Transfer to own/other account).’
Scroll down to the bottom of the next page and click on ‘Pay a new Beneficiary.’
Enter your Internet banking profile password and click ‘Submit.’
Choose the beneficiary’s bank account. For adding an other bank account beneficiary, select the ‘Other Bank Account’ option.
Fill in the required details such as Name, Account Number, Maximum Limit, IFSC Code, and Nick Name. Click ‘Next’ to proceed. (The branch address will automatically appear after entering the IFSC Code.)
On the next page, enter the amount to be sent to the beneficiary and select the purpose of the transaction. Then click ‘Pay.’
Review the transaction details on the next page. If everything is correct, click ‘Confirm.’
An OTP will be sent to your linked mobile number. Enter the OTP and click ‘Next’ to confirm the transaction.
Upon confirmation, you will receive a message confirming the transaction on your phone.

By following these steps, you can seamlessly add an other bank account beneficiary in your SBI YONO app, enabling you to initiate fund transfers conveniently and securely.

How to Add a Beneficiary in SBI Using Internet Banking

Log in to the official SBI Internet Banking website.
Enter your credentials and click on the “Login” button.
Select the “My Accounts and Profile” option.
Under the “Profile” section, choose “Add & Manage beneficiary”.
Enter your profile password on the next screen.
Select either the “SBI Beneficiary” or the “Other Bank Beneficiary” option.
Click on “Add” and fill in the beneficiary details, including Name, Account number, and IFSC code.
Review the terms and submit the request.
Verify the prefilled particulars of the beneficiary on the next screen. If correct, click “Confirm”.
Approve the other bank beneficiary by entering your profile password and clicking “Approve Beneficiary”.
Choose the preferred approval method: “Using ATM” or “Approve via OTP”.
Select “Approve Through OTP”, then select the account number and enter the received OTP. If not received, wait.
Click “Approve” to finalize the process.
The beneficiary will be added and activated based on the approval time.
Check the activation status of the beneficiary in the “View” section.

Following these steps will enable you to successfully add a beneficiary in SBI using Internet Banking, facilitating convenient fund transfers securely.

Required Information for Adding a Beneficiary

To add a beneficiary in SBI net banking, you’ll need the following information:

SBI net banking user ID and password for login.
Beneficiary details, including:
- Name
- Account number
- IFSC code
Your mobile number should be registered with your SBI account.

Ensuring you have this information handy will facilitate a smooth process when adding beneficiaries for fund transfers through SBI net banking.

How to Edit or Delete a Beneficiary in the SBI YONO App

Open your SBI YONO app on your mobile device.
Click on ‘YONO Pay’ from the app’s main menu.
Select ‘Bank Account’ from the options provided.
Next, choose ‘Other Accounts’ from the menu.
You will be presented with a list of all the beneficiaries you have added.
To edit or delete a beneficiary, select the respective option next to the beneficiary’s name.
- To delete, choose the delete option.
- To edit, select the edit option. Note that you can only modify the limit and nickname; account number and your name cannot be changed.
Make the necessary changes and confirm.
Save the changes, and your beneficiary list will be updated accordingly.

By following these steps, you can easily edit or delete beneficiaries in your SBI YONO app, ensuring that your account remains up-to-date and secure.

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How to Add a Beneficiary in SBI Using ATM or IRATA Method

Log in to the official SBI Internet Banking website.
Enter your details and click the “Login” button.
Choose the “Fund Transfer” option.
Select the “Add & Manage beneficiary” option.
Enter your profile password on the next screen.
Choose either “SBI Beneficiary” or “Other Bank beneficiary” based on the recipient’s account.
Click “Add” and provide the beneficiary details: Name, Account number, and IFSC code.
Review the terms and submit the request.
Verify the prefilled particulars of the beneficiary and click “Confirm”.
Confirm the other bank beneficiary and select “Approve”.
Enter your profile password and click “Approve Beneficiary”.
Choose the preferred approval method: “Using ATM” or “Approve via OTP”.
Select “Using ATM” (IRATA) for instant activation.
Note the ten-digit reference number provided.
Visit an SBI ATM, insert your card, and enter your debit pin.
Select “Services”, then “Others”, and choose “Internet Banking Request Approval”.
Enter the ten-digit reference number.
Confirm, and you will receive the approval confirmation.

Following these steps will allow you to efficiently add a beneficiary in SBI using the ATM or IRATA method, ensuring quick activation for fund transfers.

FAQ’S for How to Add Beneficiary in Yono SBI

What is the maximum amount I can transfer using NEFT through the YONO SBI app?

You can transfer up to ₹ 10 Lakh using NEFT with no additional charges.

Is there a limit on IMPS transactions via the YONO SBI app?

Yes, the maximum amount you can transfer using IMPS is ₹ 2 Lakh, and there are no charges for IMPS transactions.

What is the transaction limit for RTGS transfers through YONO SBI?

The transaction limit for RTGS ranges from ₹ 2 Lakh to ₹ 10 Lakh, with no charges applicable.

What is the maximum amount I can transfer in a single transaction using Quick Transfer on the YONO SBI app?

You can transfer up to ₹ 25,000 per transaction using Quick Transfer, and there are no charges associated with it.

Is there a daily limit for SBI mCash transactions through YONO SBI?

Yes, the daily transaction limit for SBI mCash is ₹ 2,202, and there is a charge of ₹ 2.5 + tax per transaction.

What is the maximum amount I can transfer in a day using UPI on the YONO SBI app?

You can transfer up to ₹ 1 Lakh per day using UPI with no charges.

Are there any charges for NEFT, IMPS, or RTGS transactions made through the YONO SBI app?

No, there are no charges for NEFT, IMPS, or RTGS transactions initiated via the YONO SBI app.

How can I check the transaction limits for different modes of transactions on the YONO SBI app?

You can refer to the provided transaction limit table or check the latest updates on transaction limits within the YONO SBI app for accurate information.

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