I just want to slap the guy who comes up with these weird rules and regulations. What is really a very simple process has been made very complicated weird protocols by Online SBI. What you have to go through to do a simple money transfer from SBI to other bank is beyond human pain.
Below are the restrictions.
- To add a beneficiary, within the secure internet banking site you have to get into another secured location.
- You can only add 1 beneficiary per day.
- You have to approve the addition of the beneficiary by calling the branch or feeding the code via mobile
- Even after approve of the beneficiary, it will become active only the next day and so transfer could be done only the next day
- Once activated, within 5 days of activation you can only transfer a maximum of 50K INR
- After all this pain... you will be charged Rs. 5 for online transfer. :(
So, essentially it takes more than 3 days to make an online transfer. Why would i go for online banking if it is this complicated? SBI has got their channel economics completely wrong.
#SBI #Online #InternetBanking