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How to add Beneficiary? How long does it take to add beneficiary and what is the limit to transfer funds?

Adding Beneficiary is extremely simple and quick. All you need to do is:

Select the tab of ‘Transfer’ from the bottom navigation tray of the Dashboard
Select ‘Add Payee’
Enter the Payee details like IFSC code, Account Number, Payee Name & Nick Name
Select ‘Next’ and Review the Details.
If the details are found to be correct, then click on ‘Confirm Payee’
You will receive an OTP from SSFB to authenticate the Payee.
Once the OTP is entered & verified, the Payee is added successfully.

Alternatively, you can select the option of ‘Quick Transfer’ if the transaction is a one-time transfer. Follow the above steps till step 4 and complete by following the below additional steps:

Click ‘Proceed to Pay’ on the Review Details page
Enter the amount, select the mode of payment (IMPS, NEFT or RTGS) and click on Pay
Enter the OTP & verify. That’s all, your funds are transferred to the mentioned bank account number.

Kindly note in Quick Transfer, the funds will be transferred to the designated bank account number irrespective of the Payee Name. Hence, ensure to enter the bank account number carefully.

Kindly note the limit on the fund transfer applicable once the Payee is successfully added:

- First 24 hours -> Rs. 50,000
- After 24 hours -> Rs. 1,00,00,000

Last updated: 3 Months Ago

276Views

How to add Beneficiary? How long does it take to add beneficiary and what is the limit to transfer funds?

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