If you are an YONO SBI user & want to know How to add beneficiary in Yono SBI Online then you are at the right place. In this article I will be discussing about the detailed process.
YONO SBI is an Online Digital platform by State Bank of India (SBI) through which it offers its customers to manage their finances as per their needs in the most simplest way.
To transfer funds using YONO SBI you need to to add beneficiary in Yono SBI Online.
What is Beneficiary in YONO SBI?
In simple words the beneficiary is the recipient of funds transferred from your bank account to the bank accounts of other person.
For example, you want to transfer Rs 50000/- to the bank account of a person. In this case the person to whom yo want to send money is the beneficiary. Adding a beneficiary in the YONO SBI app ensures that your funds are transferred to the right recipient accurately and securely.
But if you want to transfer your funds in SBI YONO without adding the beneficiary, then there are high chances that your funds may get transferred to the bank account of the wrong person.
On adding a new beneficiary in SBI YONO, all the details related to the beneficiary’s account are verified by you, like the beneficiary’s IFSC code, his bank account number, his name, his bank name, etc., so that this additional step can be taken . Make sure you send your funds to the correct bank account.
STEPS TO ADD BENEFICIARY IN YONO SBI Online:
Step 1. Login YONO SBI app
Step 2. Tap on “Yono Pay”
Step 3. Tap on “Bank Account”
Step 4. Tap on “Pay a new Beneficiary”
Step 5. Enter your SBI Internet Banking “Profile Password” & Tap on Submit
Step 6. Now you have to select how do you want to pay the beneficiary. Tap on “Account Number”Option & Select Next
ALSO READ: How to get Bank Statement fro YONO SBI?
Step 7. If you want to add a SBI Account holder beneficiary then Tap SBI Account. Submit Account details & Tap on “Next”
If you want to add any other bank Account holder than Tap Other Bank Account, Submit Account details & Tap on Next
Step 8. You have to pay an Amount to add Beneficiary.You can pay Rs.1/-. Submit your Remarks & Tap “Pay”
Step 9. A Confirmation Screen will appear. Tap on “Confirm”
Step 10. An One Time Password will be sent to your Mobile Number. Type that OTP & Tap “Next”
Congratulations!! Your transaction is successful. Your beneficiary in Yono SBI will be added within 24 hours.