SBI Instant Money Transfer (IMT) | Transfer Money from ATM to any Mobile Number

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SBI Instant Money Transfer (IMT) | Transfer Money from ATM to any Mobile Number

SBI Instant Money Transfer (IMT) is a unique service by State Bank of India that can be used to transfer money instantly to any mobile number in India. The receiver can withdraw the money from any SBI ATM without using a card. 

SBI Instant Money Transfer (IMT) facility can be used to transfer money instantly to family members and friends. This service can also be used for self-withdrawal. 

In this post, let’s take a look at the features and usage of SBI Instant Money Transfer (IMT) facility.

Salient Features of SBI Instant Money Transfer (IMT)

1. You can transfer money instantly to anyone anywhere anytime.

2. Only mobile number, name and address of the beneficiary are required by the sender.

3. The receiver can withdraw money from State Bank of India ATMs without using a card.

4. SBI Instant Money Transfer (IMT) once created cannot be cancelled.

5. The receiver has to withdraw the whole amount in a single transaction.

6. The minimum transaction amount is Rs.100 and maximum transaction amount is Rs.10,000/- per transaction subject to the monthly limit Rs.25,000 per month per beneficiary.

7. The maximum limit in a month is Rs.50,000/-

8. There are a maximum number of 10 beneficiaries per sender.

9. SBI Instant Money Transfer (IMT) service is available 24x7x365 days a year.

10. The beneficiary has T+2 days to withdraw the SBI Instant Money Transfer (IMT).

How to register and de-register beneficiary for SBI Instant Money Transfer (IMT)?

The SBI customers will be required to provide the name and address of the beneficiary through SMS (to 567676) in the format:

For registering a beneficiary for SBI Instant Money Transfer (IMT):

BREG 9912345678+VERMA+Nerul+400706

Which is beneficiary’s mobile number, beneficiary’s name, beneficiary’s location and PIN number of the location.

For de-registering a beneficiary for SBI Instant Money Transfer (IMT):

UNREG 9912345678, i.e. only the mobile number registration.

Also read: Benefits of SIP | Advantages of SIP

How to transfer money via SBI Instant Money Transfer (IMT) using SBI ATM?

The step by step process to transfer money via SBI Instant Money Transfer (IMT) using SBI ATM is as under

1. Visit your nearest SBI ATM.

2. Insert your debit / ATM card and select transfer option.

3. Enter your debit / ATM card PIN.

4. Select IMT option.

5. Now select IMT “Initiate” option.

6. Enter beneficiary 10 digits mobile number

7. Enter your 10 digits mobile number.

8. Enter sender 4 digit code and re-enter the sender code.

9. Enter the amount for money transfer. Amount should be in multiples of Rs 100/- and maximum Rs. 10,000/-.

10. Select YES or NO on the confirmation screen.

11. Select account type – Savings or Current.

12. A 15 digits IMT Id will be generated when IMT is successfully initiated. A 4 digits SMS code will also be sent to the beneficiary’s mobile number.

How can Beneficiary withdraw the money?

The beneficiary can withdraw the money from any SBI ATM without ATM card. The step by step process for withdrawal of money by the beneficiary is as under.

1. Visit nearest SBI ATM.

2. Click on IMT logo at the bottom right touch screen of the ATM machine.

3. Enter beneficiary’s mobile number.

4. Enter sender code.

5. Enter SMS code received on mobile.

6. Enter full amount (Partial withdrawal not allowed).

7. Select YES on confirmation screen.

8. Collect the cash.

Charges for SBI Instant Money Transfer (IMT)

The sender will be charged a fee of Rs. 25/- per transaction for transferring money via SBI Instant Money Transfer service.

SBI Instant money transfer (IMT) is a very good service provided by SBI especially when you need to send money to someone in an emergency. This facility is also useful when you forgot your wallet or lost your debit card.

Also read: Pay your bills using SBI e-PAY service / Internet Banking 

Also read: SBI Phone Banking | How to use SBI Phone Banking?

Also read: SBI Flexipay - Pay back in easy monthly installments

Also read: How to use SBI Pay (UPI App of SBI)? 

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SBI Instant Money Transfer (IMT)