Life changes, and sometimes that means changing banks, or at least branches. If you’re an SBI customer and you are relocating or finding a new branch, then transferring your savings account is easier than you think. Here’s a guide to navigating the process of how to transfer an SBI savings bank account from one branch to another branch both online and offline.
Transfer your SBI Savings Account Online: Step-by-Step Guide
Switching branches for your SBI savings account via online mode is a convenient and hassle-free process. Here’s a comprehensive guide to help you navigate the steps:
Before you begin:
- Ensure your mobile number is registered with SBI for receiving OTP.
- Note down the IFSC code of the new branch you wish to transfer to.
Steps:
1. Access Online SBI:
- Visit the official website: https://www.onlinesbi.sbi/
- Log in using your Username, Password, and Captcha.
- Enter the OTP received on your registered mobile number to proceed.
2. Navigate to Transfer Services:
- Click on the “e-Services” tab located on the top menu bar.
- Under the “Account Management” section, select “Transfer of Savings Account.”
3. Choose Transfer Option:
- Two options will appear: “Within Branch” and “To Other Branch.”
- Choose “To Other Branch” to initiate the inter-branch transfer.
4. Enter New Branch Details:
- Enter the IFSC code of the new branch you wish to transfer to.
- Confirm the account details displayed on the screen.
- Review and accept the terms and conditions.
5. Submit Request and Verification:
- Click on “Submit” to initiate the transfer request.
- You will receive an OTP on your registered mobile number.
- Enter the OTP to verify and confirm the transfer request.
6. Confirmation and Processing:
- Upon successful verification, you will receive a confirmation message with a reference number.
- The transfer process may take 3-5 working days depending on internal bank procedures.
- You will be notified via SMS or email once the transfer is complete.
Transfer SBI Savings Account to a New Branch Through the YONO App
If you’re an SBI savings account holder, switching branches can be done conveniently through the YONO app (an SBI mobile banking service), which will save you time and a trip to the bank. Here’s how to do it.
- Open the YONO app and log in.
- Tap on the “Services” option on the bottom navigation bar.
- Scroll down and select “Transfer of Savings Account”.
- Choose the account you want to transfer from the list.
- Enter the IFSC code of the new branch you wish to move to.
- Review the details displayed on the screen for accuracy.
- Tap “Confirm” to initiate the transfer request.
- You’ll receive an OTP on your registered mobile number. Enter it and tap “Confirm” again.
- You’ll get a confirmation message on the app, and your account will be transferred within 2-3 working days.
Transfer SBI Savings Account to Another Branch with YONO Lite
- Open the YONO Lite app and log in.
- Tap on the “Services” section on the bottom menu bar.
- Select “Transfer of Savings Account” from the list of options.
- Choose the “Account to be transferred” from the drop-down menu.
- Enter the IFSC code of the new branch in the designated field.
- Double-check all the details, and if everything is correct, click “Confirm”.
- You’ll receive an OTP on your registered mobile number. Enter it and tap “Confirm” again.
- That’s it! You’ll see a confirmation message on the screen, and your account transfer request will be processed.
Transfer your SBI Savings Account to Another Branch By Visiting the Bank
- Visit your current or new branch: Fill out a “Transfer of Savings Account” form available at the branch. You’ll need your passbook, ID proof, and the new branch code.
- Call SBI customer care: Contact them at 1800 112 211 or 1800 425 3800. They can guide you through the process and answer any questions.
Tips for a Smooth Transfer
- Clear any outstanding dues: Ensure no pending loans, overdrafts, or stoppages on your account before initiating the transfer.
- Update standing instructions: Inform any payees who automatically transfer funds to your account about the new branch details.
- Collect account statements: Download or request copies of your account statement from the old branch for future reference.
- Update KYC: If your address changes due to the branch transfer, update your KYC information with SBI.
Additional notes:
- The transfer process usually takes 3-5 working days. You’ll receive confirmation via SMS or email once it is complete.
- Depending on the chosen method, there may be a nominal fee associated with the transfer.
- If your mobile number isn’t registered, you must visit a branch for the transfer.
Following these steps, you can easily transfer your SBI savings account to your new branch and keep your finances flowing smoothly. Remember, choosing the right branch can significantly impact your banking experience, so select one that conveniently caters to your needs.