SBI Discontinues M-Cash Facility: Here’s How to Make Transactions Now

G GOWTHAM
The State bank of india (SBI) has officially discontinued its M-Cash facility, an older method that allowed users to transfer money using mobile phones. customers who previously relied on M-Cash for payments, peer-to-peer transfers, or bill payments now need to switch to more secure and modern wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital payment options offered by the bank.

Why sbi Discontinued M-Cash

· Outdated Technology: M-Cash was based on older mobile banking protocols and lacked modern security features.

· Better Alternatives Available: Today’s wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking options like UPI, IMPS, NEFT, and RTGS offer faster, safer, and more versatile transaction methods.

· Enhanced Security: Modern methods ensure encrypted transfers and reduce the risk of fraud.

How to Make Transactions Now

1. UPI (Unified Payments Interdata-face)

· What it is: Real-time money transfer using a smartphone app linked to your bank account.

· How to use:

o Download a UPI-enabled app like SBI yono, google Pay, PhonePe, or Paytm

o Link your sbi account using your VPA (Virtual Payment Address)

o Send or receive money instantly using just the UPI ID or mobile number

2. IMPS (Immediate Payment Service)

· What it is: Instant interbank transfer service available 24/7.

· How to use:

o Use SBI yono, Internet banking, or SMS Banking

o Transfer funds using account number and IFSC code or MMID

3. NEFT (National Electronic Funds Transfer)

· What it is: Secure transfer of money between banks, typically processed in hourly batches.

· How to use:

o Log in to SBI Net banking or yono app

o Enter beneficiary account details and IFSC code

o Fund transfer is processed in scheduled batches

4. RTGS (Real-Time Gross Settlement)

· What it is: Used for high-value transactions (usually ₹2 lakh and above) in real-time.

· How to use:

o Log in to SBI Net banking or branch

o Enter beneficiary account details and IFSC code

o Transfer funds instantly without waiting for batch processing

Conclusion

With the discontinuation of SBI M-Cash, customers are encouraged to switch to modern wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking options like UPI, IMPS, NEFT, and RTGS. These methods not only provide faster and safer transactions but also offer greater convenience, making mobile banking more efficient than ever.

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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