SBI to Discontinue mCASH Service from November 30: Money Transfers Without Beneficiary Registration to Stop

India’s largest public-sector lender, State Bank of India (SBI), has announced that it will permanently discontinue its widely used mCASH service from 30 November 2025. After this deadline, customers will no longer be able to send money without adding a beneficiary, nor will they be able to claim funds received through mCASH links. The bank has advised users to shift to more secure and mainstream digital payment systems such as UPI, IMPS, NEFT, and RTGS, which will remain the primary channels for third-party transactions in the future.

SBI issued this update on its website, notifying customers well in advance so they can prepare for the transition and avoid payment disruptions. The move aligns with the bank’s long-term strategy of strengthening safe, real-time, and regulated digital payment systems.

What Was SBI mCASH?

The mCASH service allowed SBI internet banking users to transfer money using only the recipient’s mobile number or email ID. This made it particularly useful for people who needed a quick transfer without formally registering a beneficiary.

Here’s how it worked:

• The sender initiated the transfer through OnlineSBI or the YONO Lite app.

• The receiver got a secure link via SMS or email.

• To claim the money, the recipient entered the 8-digit passcode shared by the sender.

• The amount could be claimed using any bank account, not just SBI.

This simple, no-registration process made mCASH popular among users who needed instant transfers without going through the beneficiary-addition process.

What Changes After mCASH Is Discontinued?

From 30 November 2025, the following changes will be implemented:

• Users cannot send money through mCASH.

• Recipients cannot claim any pending or new mCASH transfers.

• Links and passcodes associated with mCASH will become invalid.

• OnlineSBI and YONO Lite will remove the mCASH option from their interface.

SBI encourages customers to adopt robust digital alternatives that ensure better transaction safety, faster processing, and complete traceability.

How Will Customers Transfer Money After mCASH Ends?

The most convenient replacement is UPI, which has become a preferred mode of payment across the country. SBI promotes its UPI application, BHIM SBI Pay, which supports payments across all UPI-partner banks.

How UPI Transfers Will Work

Users can:

• Log in to the app

• Select the ‘Pay’ option

• Choose to send money through:

  • Virtual Payment Address (VPA)

  • Account number and IFSC

  • QR code

  • Mobile number (where supported)

To complete the transaction, users must enter their UPI PIN, making the process secure and seamless.

Available Options After November 30

SBI has highlighted four key alternatives that customers can use depending on their requirement:

Why SBI Is Moving Away from mCASH

The discontinuation of mCASH is part of SBI’s shift toward more secure and standardised payment infrastructure. Modern digital payment methods, especially UPI, offer:

• Real-time processing

• Stronger security layers

• Broad adoption across banks and merchants

• Better fraud monitoring

• Regulation-backed frameworks

With UPI dominating India’s digital payments ecosystem, mCASH has become less relevant, prompting SBI to streamline its services.

What Customers Should Do Now

Before 30 November, customers should:

• Ensure all transfers are shifted to UPI or IMPS.

• Update beneficiary lists for NEFT or RTGS transactions.

• Inform frequent payees or recipients about the change.

Preparing in advance will ensure there is no disruption to your daily money transfers once mCASH is officially discontinued.