Recently Country’s largest bank, State Bank of India introduced the account transfer option on its online platform.
It greatly adds up to customer convenience. Earlier just to get a savings account transferred to another branch, you would have to visit the home branch and follow certain paperwork.
The introduction of this facility really makes a difference. Changing a resident is a common thing among office goer who has frequent departmental transfer policy. Sometimes, if we do not plan properly might leave behind our bank account.
When you have shifted to a far-flung area, it becomes a real issue. The question is, just to get your account transferred to your desired branch will you book a flight ticket?
Considering the inconveniences people are facing, this add-on facility provided by SBI is just great.
One can use web-based online banking or a mobile application-based (YONO and its lite version) to get the account transferred to the desired branch.
All you have to do is log on to your online banking and do it at your ease. It’s available 24/7. One can transfer savings account once in 3 months.
Accounts such as joint accounts, minor accounts, and non-personal accounts are excluded. Only those accounts which have a single mode of operation where KYC is updated as per RBI norms are eligible.
How to transfer your Savings Bank account.
One can use a web-based official website to do the task. The other easy way is to do it through the YONO app or its lite version.
Basically, how you proceed in all three platforms is more or less the same. These screenshots will just make it very easy for you to access.
On SBI YONO platform
Follow the simple steps to get your account transferred to your desired branch.
| 1 | Open SBI YONO and go to Service Request. |
| 2 | Select the Account menu. |
| 3 | On the next screen, you will see the option to Change Home Branch. |
| 4 | Click on it, and select the account number you wish to transfer. |
| 5 | Provide the destination branch code or search the destination branch. Select and confirm. |
| 6 | Provide the OTP you have received and finalise the transaction. |
| 7 | Your account will be transferred instantly. |
On SBI YONO Lite version
Follow these steps to transfer your bank account on SBI YONO Lite
| 1 | Open SBI YONO lite and go to Services. |
| 2 | Select the Account menu. |
| 3 | On the next screen, you will see the list of options. |
| 4 | Select the transfer of savings account option. |
| 5 | Select the account number you wish to transfer. |
| 6 | Provide the destination branch code or search the destination branch. Select and confirm. |
| 7 | Provide the OTP you have received and finalise the transaction. |
| 8 | Your account will be transferred instantly. |
On SBI web-based INB portal
In the web version too, the process and menus are the same. Find out the My Account menu. Select the savings account you wish to transfer and confirm with the OTP.
In all these three platforms, you are basically going through the same process. Bank made it easy for you to access your account in different modes and get your task done hassle-free.
Things that you should know!
| 1 | Not all accounts are having this facility. Only a fully KYC-compliant account can be transferred. |
| 2 | At present, Savings Bank and PPF are allowed to do so as per the SBI official websites. |
| 3 | Once you transfer your account it can not be reversed. You can transfer it back only after the completion of a certain period which is 3 months from the date of transfer. |
| 4 | You should know the exact branch code to where you would transfer your account. To find the branch code, you can rely on the SBI branch locator. |
| 5 | Go to your new branch when it is done and confirm whether everything is alright. |