State Bank of India (SBI) on May 7 announced that a customer can transfer his or her account from one branch of the bank to another without even visiting the bank. The customer can do it simply by using the YONO SBI app, YONO Lite app and SBI's online services.
SBI has over 22,000 branches and more than 57,889 ATMs across the country. As of December 31, 2020, it had 85 million internet banking and 19 million mobile banking users. The bank's number of UPI users stood at 135 million at December-end.
At present, the bank has 35 million registered users of YONO, the digital lending platform.
So, how will you transfer your account by using the YONO SBI?
1. You log in to the YONO SBI app on your mobile phone.
2. Then, click on the ‘Services’ option.
3. After that, go to the ‘Transfer of Saving Account’ option where you will have to select your savings account.
4. You have to provide the new branch code, where you wish to transfer your account. Then click on the ‘Get Branch’ name option and you will be able to see the new branch’s name.
5. Once you have done that and you are sure about transferring your account, click on ‘Submit’.
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Don't have the app? Nothing to worry about. You can do it online using the SBI website as well.
Here is how:
1. Log in to OnlineSBI by entering your username and password. At the first login, you will need to go through a simple initialisation process. Then you go to the ‘Personal Banking’ tab.
2. Then click on the ‘e-services’ option and select the ‘Transfer of Savings Account’ option. You can view your account details like the number and branch name.
3. Select the account you wish to transfer and you have to provide the code of the new branch.
4. Then you will get the branch name. Select it and submit the request. Verify the account transfer details using the existing and new branch codes.
5. Once you click on the ‘Confirm’ button, a one-time password (OTP) will be sent to your registered mobile number.
6. Enter the OTP and click on ‘Confirm’ to register your request.
(With PTI inputs)