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FAQs on New Beneficiary Addition Process:


  1. What is the change in the beneficiary addition process?
    Now, customer can add and approve upto four beneficiaries SBI Beneficiary (Account Holder of SBI) and four other Bank Beneficiary (Account Holder of other banks) in a calendar day which will be activated by the internet banking system after 1 hour if approved by customer during the period from 6.00 AM to 8 PM IST. Beneficiary approved after 8 PM will be activated on the next day after 6.00 AM (IST). Customer can also add and approve up to two beneficiaries per day in each of the following categories: VISA and IMPS beneficiaries which will be activated by the internet banking system after 4 hours, if approved during the period from 6.00 AM to 5 PM (IST). Beneficiary approved after 5 PM for the categories VISA and IMPS will be activated on the next day after 6.00 AM (IST). Customer can commence funds transfer to the newly added beneficiary only after its activation. During the first 4 days after activation, you can transfer a total of Rs. 5,00,000 to a new beneficiary. Customer can transfer up to full limit (please refer Transaction limit / Charges) in a day if beneficiary is activated by your home branch or if activated using IRATA (Internet Banking Request Approval Through ATM).

  2. What is IRATA?
    IRATA stands for Internet Banking Request Approval Through ATM. It is a highly secure method of instantly approving an internet banking request through any SBI ATM. To use IRATA, generate the IRATA reference number and follow these simple steps:
    • Please visit any State Bank Group ATM, swipe your card, select the 'Services' tab and input your PIN.
    • Select 'Others' tab on the ATM screen and choose 'Internet Banking Request Approval' option.
    • Input the 10-digit reference number for approval of the request.
    • On successful completion of the process, the request will be fulfilled.
    • Upon successful validation, the new beneficiary will be activated immediately.

  3. Can a new beneficiary be activated immediately with full limit for transfer of funds?
    If you wish to activate the beneficiary immediately with full limit, you will have to choose the branch activation or IRATA option. If you choose the branch activation option, the duly signed form will have to be submitted to branch for immediate activation with full limit for transfer of funds. If you choose the IRATA option, you will have to activate through a State Bank ATM in India (follow the steps mentioned in previous query).

  4. What if I want to add more than two beneficiaries in a day?
    You can add and approve four beneficiaries in a day in SBI Beneficiary (Account holder of SBI) and four beneficiaries in a day in Other Bank Beneficiary (Account Holder of Other banks) through OTP/IRATA/Branch mode.

  5. How will I come to know that the beneficiary added by me has been activated?
    You will receive a confirmation SMS advising activation of your beneficiary on your Internet Banking registered mobile number.

  6. Can I transfer funds to beneficiary up to the daily limit of Internet Banking immediately upon activation?
    During cooling period of first 4 days after activation, customer can transfer only upto Rs. 5,00,000 (in aggregate) to the newly added beneficiary. Thereafter, the full per day limit, as set by customer, subject to maximum of Rs. 25 lakhs will become available. Full limit will be available immediately for beneficiaries that are activated through the branch or using IRATA. Please make sure your total limit per day for Third-Party Transfer (TPT) transactions is sufficiently set for all your transactions planned through the day.

    You can change TPT limit anytime by going to My Accounts & Profile > Profile > Define Limit > Set Per Day Third Party Transaction Limit (NEFT / RTGS / IMPS / General Category Merchants).

  7. Can I get my newly added beneficiary approved or activated over phone call/ e-mail to Bank or Bank's representative?
    No. Such requests will have to be made in writing under your signature and submitted to the branch. Alternatively, you can use IRATA mode to activate newly added beneficiary by visiting any State Bank ATM in India.

  8. Can I approve the newly added beneficiary without One Time Password (OTP)?
    Yes. If you have not received the OTP for approving new beneficiary, then you can click on "Click here to make a request to the branch" for branch approval under "Approve" tab itself. The duly signed form needs to be submitted to the Branch for beneficiary activation. The activation of the beneficiary will be instant and cooling period of 4 days will not be applicable, if approved by the branch. You may also approve such beneficiaries by using IRATA mode.

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