SBI to Shut Down Its mCASH Service From November 30: Here’s What Customers Need to Know

State Bank of India (SBI), the country’s largest public sector bank, has issued an important alert for its millions of customers. The bank has announced that it will permanently discontinue its mCASH service from 30 November 2025. This change will affect both money sending and claim operations related to mCASH, which until now have been available through OnlineSBI and the YONO Lite mobile app.

The bank has updated the information on its official website, stating that customers now prefer faster and more efficient digital payment methods like UPI, IMPS, NEFT and RTGS, making older systems such as mCASH redundant.

What Is mCASH?

mCASH was an early instant money transfer service launched by SBI years ago, aimed at providing convenient and quick transfers without the need to add a beneficiary.
Key features of mCASH included:

• Money could be sent using just a mobile number or email ID.

• No prior beneficiary registration was required.

• A fee of ₹2.50 per transaction was charged.

• Funds could be debited from any bank account.

• Once money was sent, the recipient received a link via SMS or email.

• SBI also generated an 8-digit passcode, which the receiver had to enter on the mCASH page to claim the money.

This made mCASH useful during a time when digital payment options were limited and UPI had not yet become the standard mode of transactions.

Why Is SBI Discontinuing mCASH?

SBI has highlighted two major reasons for shutting down the service:

1. Rapid increase in UPI adoption

With the massive growth of UPI over the last few years, customers now prefer this fast, secure and free payment method for everyday transfers. Small and instant transactions that once depended on mCASH are now overwhelmingly handled through UPI.

2. Outdated technology and slower processing

Compared to modern systems like UPI and IMPS, mCASH is now considered slow, less user-friendly and technologically outdated. It does not match today’s digital banking standards in terms of speed, convenience or security.

Given these factors, SBI has decided that continuing mCASH no longer adds value to customers.

What Will Change After November 30?

Starting 30 November 2025, SBI customers:

• Will not be able to send money through mCASH

• Will not be able to claim money received through previous mCASH transactions

• Will have to rely on other digital payment modes

The bank has assured that all major and widely used payment channels will remain available, including:

• UPI (Unified Payments Interface)

• IMPS (Immediate Payment Service)

• NEFT (National Electronic Funds Transfer)

• RTGS (Real-Time Gross Settlement)

These services provide faster processing speeds, improved security and enhanced convenience compared to mCASH.

What Should Customers Do Now?

SBI has advised customers to stop using mCASH immediately and switch to the available modern alternatives. Since the service will cease entirely on November 30, any pending mCASH transactions should be claimed or completed before the deadline.

For future transfers:

• Use UPI for instant peer-to-peer payments

• Use IMPS for fast bank-to-bank transfers

• Use NEFT or RTGS for larger or scheduled transactions

The bank assures that these methods offer seamless functionality and are better suited to the current digital banking ecosystem.

Why This Matters for SBI Users

The discontinuation of mCASH marks the end of one of SBI’s early digital banking services. While it served as a useful tool in the past, India’s digital payments landscape has evolved rapidly. With UPI now dominating the market, SBI’s move aligns with the shift toward more efficient and secure digital payment systems.

For customers, the transition is expected to be smooth, as most users already rely on UPI and IMPS for daily transactions. SBI’s decision simply formalizes the move to modern platforms that offer better speed and convenience.