SBI UPI: Know about this service for quick fund transfer - Check features and how to make payment
SBI UPI Fund Transfer: If you are a State Bank of India (SBI) customer and use Yono Lite SBI UPI mode of payment, you should know this quick fund transfer facility
SBI UPI Fund Transfer: If you are a State Bank of India (SBI) customer and use Yono Lite SBI UPI mode of payment, you should know this quick fund transfer facility. Do you know about the different channels being offered by YONO Lite application for transferring funds? The different channels for transferring funds using Yono Lite SBI UPI functionality are:
1) Transfer through Virtual Payment Address (VPA)
2) Account Number + IFSC
3) Through Aadhaar Number
The advantage of this app is that the customer need not register the beneficiary in order to transfer funds. In case of sending money using beneficiary’s Virtual ID, the beneficiary should mandatorily be registered with UPI but in case of payment through Account number +IFSC or Aadhaar number the beneficiary need not be registered for UPI.
Features of SBI UPI Fund Transfer:
1) Currently, there is a limit of Rs 10,000 per transaction and Rs 25,000 daily limit through YONO LITE SBI App, the bank website says.
2) If your account is debited but the transaction does not go through, UPI provides for real-time reversals for technical declines and amount would be transferred back to the payer account immediately, the bank claims. In case if the amount is not reversed, you can raise a dispute through YONO LITE SBI app itself.
3) You cannot stop a payment request for funds transferred through UPI functionality of Yono Lite SBI App once the payment is initiated.
4) You can raise grievance by going to ‘Payment History’ option and select a particular transaction and ‘raise dispute’. You can also check the status in “Dispute Status” module available under UPI functionality in SBI Personal App.
5) Presently, no charges are levied. Any change in this matter will be communicated separately, the bank website says.
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How to track your transaction status?
1) Login to Yono Lite SBI App
2) Navigate to UPI >> UPI Payment History
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