SBI account holders need help

logistopath said:
HDFC, I believe, has a 1 day restriction. Banks like ICICI do not have any restriction. You can add a beneficiary and then transfer immediately.
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HDFC earlier it was 24 hours.Now its 12 hours.
I guess thats enough.2-3 times one get sms of this addition and is sure account is not hacked with this restriction stuff.5 Days is too much.
ICICI doing it immediate is good but its just like debit card ,if you loose password you are gone immediately.Though for a wise trouble maker its not a big deal too do the same with HDFC also(Changing mobile number)
 
You are trying to schedule a neft. Do not use the schedule option .

You can transfer money after 4 hours of adding a beneficiary. Sbi changed this some.time back
 
Yeah same for me. You can send payment on the same day itself after 4 hours. They do limit it to max 50k for the first five days.
 
Earlier this 5 day rule wasent there.. At least not in March last year.. I haven't tried anytime recently as I've shifted to ICICI, which allows to add and transfer money to beneficiary instantly..
 
I added a new beneficiary 3-4 months back, and the restriction then was I can't transfer more than 50000 during the first 5 days, probably they might have changed the rules now.
But they do have an option of "Beneficiary Activation by Branch", for which after addition of the account details you need to take printout and submit to the branch for immediate activation with full transfer limit.
 
Irrespective of what the error was,i was able to transfer the money today morning i.e after 2.5days though the restriction of rs 50000 was still there
 
Dammit. Same issue with sbi. Added a beneficiary this morning , throws the same error " You cannot schedule a transaction for a new beneficiary for five days from the date of activation
 
So i used IMPS the first time today. Credit was instant to the beneficiary. Now i wonder, why use neft at all when imps is much faster and works 24/7 , has a flat transaction fee of Rs 5
Are there any limitations to this ?
 
sandeepsachin said:
So i used IMPS the first time today. Credit was instant to the beneficiary. Now i wonder, why use neft at all when imps is much faster and works 24/7 , has a flat transaction fee of Rs 5
Are there any limitations to this ?
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WTH I just tried and it worked! Thank you very much for mentioning this! and also no need to wait for 5 days for a new beneficiary (though there is limit of 10K for first 5 days)

I am wondering how it worked on a holiday and that too on a non banking hour! Amazing :happy:
 
sandeepsachin said:
So i used IMPS the first time today. Credit was instant to the beneficiary. Now i wonder, why use neft at all when imps is much faster and works 24/7 , has a flat transaction fee of Rs 5
Are there any limitations to this ?
Click to expand...
Even I started using IMPS from last week.
SBI implementation of IMPS is pretty bad. They only allow IMPS transfers between 8AM and 8PM.
In HDFC, one can transfer using IMPS at any time.
 
rdst_1 said:
That's the beauty of IMPS. I haven't used it yet but I think I am gonna register for it today itself.
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Which bank's account are you going to use?
In both my HDFC and SBI accounts, IMPS was activated by default. Did not have to register for anything separately.
 
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