Standing Instruction - FAQ
The Standing Instructions feature facilitates periodic scheduled payments for funds transfer, third party payment, and RTGS/NEFT/State Bank Group transactions.
You can register standing instructions on your savings and current accounts. You can register multiple standing instructions on different accounts and at different frequencies.
You will receive an SMS when a standing instruction is executed and your account is debited.
Funds transfer, Third Party transfer, Inter Bank Transfer to other bank accounts, or state bank group accounts.
You can register standing instructions for 1 month to 6 months and from 5 days to 30 days.
Yes, you can cancel standing instructions, if at least one instruction is pending for execution. However, you cannot cancel a standing instruction if it is scheduled for the current date.
Yes. You can view the history of instructions executed on your accounts in the History tab.
No. You can register standing instructions on your internet enabled accounts through the Internet banking portal. Execution happens automatically. You can also cancel standing instructions online.
Yes. When you register a standing instruction, the Internet banking site verifies your identity by sending a high security password to your registered mobile number. You need to key in the password to complete the registration.
Yes. When you register standing instructions, you are provided a tentative schedule with the dates on which the instructions are executed.
Ensure that the third party/Inter bank beneficiary name and account number are valid. Ensure that your mobile number is registered on the site. Also ensure that you have sufficient balance in your account to execute the instructions.
Standing Instructions are initiated without manual intervention. A standing instruction will be initiated on each scheduled date until the specified Number of Months/Days is over.
Steps to record a standing instruction for funds transfer, third party transfer to an Intra bank third party (holding an account in State Bank of India), Inter Bank third party (holding an account in any RTGS/NEFT enabled bank including State Bank Group) are identical.
You can record standing instructions in the Requests tab. You can also record an instruction in the transaction links in the Payment and Transfers tab.
No. It is mandatory to add and approve the Intra or Inter bank third party account before recording standing instructions for the beneficiary.