Transferring money using SBI Internet Banking is a 3-step process. First is to add a beneficiary ie the payee to which money is to be transferred, second step is to activate it and third is to send money after activation

Adding beneficiary details
To add, we just have to enter beneficiary’s bank details like name of bank, account number, IFSC code and the maximum credit limit.
1. Login to your SBI netbanking account. Click ‘Profile’ tab at the top.

2. On the profile page, click ‘Manage Beneficiary’.

3. Enter password when asked.

4. Click ‘Intra Bank Beneficiary’.

5. Enter name, account number and transfer limit for the beneficiary. Transfer limit is the maximum amount you could pay to this payee. It can be also be changed afterwards. Click ‘Submit’ to complete.
6. This step is done. Don’t close the confirmation page you see.

Approve Beneficiary 
After adding beneficiary, next step is to activate it and the credit limit. It must be done within 4 hours of adding but doing right after is the best option. Here are the steps for doing this,

1. Click ‘Goto approve third party’ link on the confirmation page.

 2. Check ‘Approve Beneficiary’.

3. Enter the high security code sent to your mobile. Click ‘approve’ to finish.

All done! Now the request for adding and activating beneficiary is submitted successfully to the bank. In 4-6 hours this request will be approved and confirmation message will be sent on your registered mobile number. All this is a one-time process. Once added and activated, beneficiary will automatically enlist for making payments.

Money can only be transferred to the newly added beneficiary only 24 hours after activation. This norm is included few months back to ensure maximum security to netbanking accounts. There has been instances where attackers add beneficiary, activate and transfer money before the account owner know about this. This 24 hour window ensures netbanking users have sufficient time to take emergency action if account is compromised.

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