How To Use SBI Online Banking For Smoother Transaction

26.07.2020

To make an online payment, you have to get a credit card registered on the bank's website. The steps to register are as follows:

For online transactions, you need to visit the SBI website.
Then, you have to enter all the details of the authentication of net banking.
After this password and user ID will have to be entered.
Click on the bill payment link and after that, you have to go to the section called Manager Bill which you will find on the left side of the page.
You have to choose the option named All India Billers further, and then you have to select the payment services and SBI Card PVT Limited which you will find under the option Biller name.
After this, you have to click on the "Go" button and get the biller details by entering the credit number and your name.
Last but not least, you have to click on the "Submit" option and approve the biller details and enter the password of high security which you will receive through mobile or SMS.

This step will take care of credit card registration. Now, the article will tell you how to make payment after registration.

You have to go to the website and click on Pay Bills / View section to start the payment.
The option of unbilled will have to be selected which comes under the section of Pay Bills.
Account number form has to be selected from which you will be paying.
The amount of payment you are going to make will have to be entered in the next.
Then, click on the Pay Now option.
Next, you will need to confirm it by clicking on the "Submit" option and confirm the details of the payment while continuing.
In case of future inquiries, you have to note down the reference number.

SBI Net Banking can also be used to make payments through the National Electronic Fund Transfer System. N.E.F.T. Payment has many benefits and is often used.

Steps to make N.E.F.T. Payments are as follows:

Go to the website, and merge the SBI card as a third party transfer beneficiary.
Add your IFSC code to make SBI card payment
A sixteen-digit card number is to be entered in place of the account number on the page.
Complete the registration process and then pay with this payment method.

Payments will appear in SBI Credit's account within a few days.

What is NEFT?

Let us discuss the meaning and benefits of NEFT.

Meaning: NEFT stands for National Electronic Fund Transfer.

What is this? It is a method of transferring money online from one bank to another. In this way, money can be transferred from one account to another in a safe and effective way. It is paperless and therefore involves less paperwork and cheaper transactions. The Reserve Bank of India has issued guidelines for banks to charge customers nothing for NEFT and hence most of the banks offer this service free of cost. Both banks engaging in this type of transaction should have this code for their designated branches.

What is IFSC Code? IFSC stands for Indian Financial System Code.

what are the benefits? The main advantage is less paperwork. There is no paperwork involved and hence customers do not have to visit their bank branches.

No lower limit: Any amount can be transferred to this facility. Even if this amount is less than one rupee, it does not matter.

How much time is taken? It occurs 6 times a day and 3 times on Saturdays. This usually happens on the same day or sometimes may take up to 3 days depending on the server.

What is needed Bank account number, branch code, branch name, and IFSC code are all required to transfer funds through this mode. Adequate funds have to be kept in the account before transferring.

What are the necessary safety precautions? Since it is an online process, the customer has to take care of his online banking password to prevent any cases of fraud.

Thus overall it is a fast, cheap, and very efficient way to transfer money and hence making day to day financial transactions easier.