1. SALIENT FEATURES

• A customer can instantly transfer rupee funds to anybody anywhere anytime.
• Only the beneficiary’s mobile number, name and address are required to be known to the sender.
• The registration of the beneficiary by the sender is carried out by the system. Hence, the sender need not provide the name and address for recurring payments.
• The beneficiary can withdraw money from select State Bank Group ATMs to begin with without using a Debit Card.
• An IMT once created cannot be cancelled.
• The beneficiary has to withdraw the whole amount in a single transaction, i.e. no partial withdrawals are allowed, at present.

2. BENEFICIARY REGISTRATION & DE-REGISTRATION

• IMT can be created through Internet banking for that first you have add IMT beneficiary under Profile section-> Manage beneficiary-> IMT beneficiary.
• A newly added beneficiary, if approved by you between 6:00 AM to 8:00 PM IST will be activated on the same day within 4 hours. Beneficiary approved beyond this period will be activated on the next day after 8:00 AM IST.
• Once the added beneficiary activated you can initiate the IMT creation.

3. THRESHOLD LIMITS

• There is a minimum transaction limit of Rs. 100/- and multiples of Rs. 100/- thereafter.
• A maximum of Rs. 10,000 per transaction subject to the monthly cap of Rs. 25,000 per month per beneficiary will be applied automatically by the system.
• The maximum amount per sender in a calendar month is Rs.50,000/- and there is a maximum number of 10 beneficiaries per sender.

4. SERVICE CHARGES

• The sender will be charged a nominal fee of Rs. 25/- (Rupees Twenty five only) per transaction at source. There will be no charges at the beneficiary end.

5. VALIDITY OF THE TRANSACTION

• The beneficiary has T+2 days to withdraw the IMT else the money will automatically be refunded back to the sender’s account. However, charges will not be refunded.

The beneficiary can use any State Bank Group ATM to make a cardless withdrawal of the amount. At present, this service is present on a limited number of ATMs. However, all ATMs will get covered shortly. The step-by-step process for withdrawal of an IMT is as under:

• Use bottom right FDK/touch screen in idle screen of the ATM against IMT logo
• Enter Beneficiary mobile number
• Enter sender code
• Enter SMS code received on mobile
• Enter amount (Full IMT amount, partial withdrawal not allowed)
• Select YES or NO on confirmation screen
• Collect the cash

1. How do you send money to a mobile number?

Money can be sent using State Bank Debit Card.

2. Can a person add any number of beneficiaries?

A customer can have a maximum of 10 beneficiaries at a time. If any new beneficiary is to be added, he has to deregister one of the existing 10 beneficiaries.

3. Is there any beneficiary registration process?

Yes, A one-time mapping of the sender with the beneficiary is carried out by the system. Hence, the sender need not provide the name and address for recurring payments.

4. How long does the beneficiary have to withdraw the IMT?

The beneficiary has T+2 days to withdraw the money from the IMT.

5. Can I cancel an IMT after creation?

No, once created an IMT cannot be cancelled.

6. What are the charges applicable on IMT?

The sender will be charged a nominal fee of Rs. 25/- (Rupees Twenty five only) per transaction at source. There will be no charges at the beneficiary end.

7. What happens in case sender does not provide the beneficiary details on time?

In case the details are not received, the IMT is cancelled by the system and the IMT amount is re-credited to the sender. However, the charges are not refunded.

8. Within how much time is the sender to register the beneficiary?

Beneficiary registration can be done both prior to or after IMT is initiated. However, in case of the latter it should be done before expiry of the IMT, i.e. T+2 days.

9. While registering the beneficiary customer has to send the details of the beneficiary such as beneficiary’s mobile number, beneficiary’s name, beneficiary’s location and location PIN number. Is it mandatory to type complete address or only the city/town name is sufficient?

There is no validation on the address. So the complete address can be entered, or just the city name. The system would accept it.

10. What in case the beneficiary’s address pin code is not available.

It has to be provided.

11. Will the beneficiary be able to with draw funds sent through IMT before the beneficiary registration? As per FAQ 8, Beneficiary registration can be done both prior to or after IMT is initiated.

No, the beneficiary cannot withdraw without registration. Suppose an IMT has been initiated before registration the SMS code (OTP) will not be received on the beneficiary mobile as it is not registered. Once the registration will be done after the IMT initiation the SMS (OTP) will be received on the beneficiary mobile and he can withdraw the money.

12. Will the beneficiary get error while withdrawing cash through IMT in case the registration is not completed.

As registration has not been done the beneficiary will not able to punch the SMS (OTP) code in the system.

13. What should the beneficiary do in case the SMS code is not received on his/her mobile number?

In case the Beneficiary registration is not completed, the OTP SMS would not go to the beneficiary and hence there would be no withdrawal.

14. Is necessary to use registered mobile number for IMT?

Registered Mobile number is not mandatory for IMT.

15. What can I do in case the beneficiary has not received the OTP?

Please email at (sbi_imt@empays.com) or call the IMT support line on 09029022871 with the IMT details. You need to provide the IMT ID at least. OTP will be resent to the beneficiary mobile number.