SBI: SBI will discontinue this service from December 1, 2025, and how much will it affect account holders?
The State Bank of India (SBI) has announced that it will discontinue the mCash sending and claiming facility on OnlineSBI and YONO Lite after November 30, 2025. This means that customers will no longer be able to use mCash to send money or claim funds through the mCash link or app without beneficiary registration.
In a message posted on its official website, SBI urged customers to use other safe and secure digital payment options such as UPI, IMPS, NEFT, and RTGS to transfer funds to third-party beneficiaries.
According to a message on SBI's website, the mCash (sending and claiming) facility will no longer be available on OnlineSBI and YONO Lite after November 30. Please use alternative transaction channels such as UPI, IMPS, NEFT, RTGS, etc. to transfer funds to third-party beneficiaries.
How is mCash used?
After downloading the SBI mCash app from the Google Play Store, register your MPIN to log in. Using the registered MPIN, customers can log in to the SBI mCash app.
What are the features of mCash?
Claim funds sent by a State Bank customer using a passcode. Transfer the claimed funds to your account at any bank. Customers can set account numbers and IFSC codes as favorites for future claims.
How does mCash work?
State Bank of India mCash allows recipients to claim funds sent by SBI customers through OnlineSBI or State Bank Anywhere. With this service, any SBI customer with internet banking can transfer funds without registering anyone as a beneficiary, simply by using the recipient's mobile number or email ID.
On behalf of the recipient, anyone with an account with any bank can claim the funds through the State Bank mCASH mobile app or the mCASH link provided on OnlineSBI. The beneficiary will receive an SMS or email containing a secure link and an 8-digit passcode, depending on the method chosen by the sender.
How to send money using UPI?
mCash customers can use SBI UPI to send and receive money. BHIM SBI Pay (SBI's UPI app) is a payment solution that allows account holders of all UPI participating banks to send and receive money, and make online bill payments, recharges, purchases, etc., using their smartphones.
How to transfer money
First, log in to the BHIM SBI Pay app. Then select the 'Pay' option. Then, select a payment option such as VPA or Account and IFSC or QR Code. Enter the required details. Select the debit account from the linked accounts and click the 'tick' mark. Then enter the UPI PIN to authorize the transaction. Click the 'tick' sign to complete the payment.
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