MMID SBI

Did you know that there are more than one ways to make an online transaction with the use of your existing banking details? All major banks of India provide their individual online payment mechanisms such as NEFT, RTGS, and IMPS. By using these payment mechanisms, one can make a transfer of funds from one bank account to another. A user can also send money from his mobile number to another mobile number directly using MMID SBI. The only prerequisite that needs to exist for such transfer is that the bank accounts involved in this process must belong to a bank that is participating in these online payment mechanisms.

What is IMPS service of State Bank of India and how is SBI MMID related to it?

IMPS also expanded as Immediate Payment Service, is a method of transferring funds instantly. IMPS can be carried out through a mobile phone (with the help of MMID), on which, the banking application of state bank of India has been installed. IMPS hold a major value because it allows a bank account holder to transfer funds on an instant basis.

An SBI MMID code consists of seven digits in which the first four digits are the unique identification number of the bank. A MMID code allows a user to make the transfer of funds. In order to facilitate the transfer of funds through IMPS using the mobile number, one needs a MMID code.

How to obtain MMID SBI code?

An account holder at State Bank of India needs to follow the following steps in order to obtain the MMID code:

1. SBI Mobile Banking customers can visit the branch and apply for MMID SBI by filling up a form.
2. Customers can also generate MMID for all your accounts enabled for Mobile Banking Service through menu option by going to IMPS and selecting ‘Generate MMID’.
3. Customers not registered for Mobile Banking Service can register their mobile number at SBI ATM to get MMID for the primary account linked to the ATM card. Simply swipe your Debit Card > Select Mobile Registration > Enter ATM PIN > Select SMS / Secure Code / IMPS > Enter your Mobile Number > Confirm.
4. Customers not having ATM card or having more than one account can visit their Branch and apply for MMID, by filling up a form.
5. 7 digit MMID number will be sent to the customer over SMS on the mobile number used for registration.

Should a person make use of MMID code? What are the advantages of using SBI MMID service?

If you are an account holder at the State Bank of India, you can definitely make use of the MMID SBI feature that is provided by the bank. One of the greatest advantages that accrue to a user is related to the fact that there is an absolute level of security associated with the use of MMID code. It eliminates the need to share the bank account number and IFSC code of the bank account holder to another party, whether he is a stranger or not. Simply by sharing the contact number and MMID code, a payment can be made to the bank account. This is a major feature of IMPS that makes it a very secure and reliable method of conducting transactions. Moreover, owing to the fact that IMPS transfers can be made at any point in time in the day, an obvious advantage accrues to a bank account holder at the State Bank of India. He can make a payment by using MMID SBI and transfer funds to the intended party. MMID service comes with its own share of benefits for the bank account holders.

Does State Bank of India have a system of online payment?

State Bank of India is a major bank in India, which is host to a number of bank accounts held by large number of Indians. Keeping in league with the onset of the digital era, the State Bank of India has also come up with its own system of NEFT, RTGS, and IMPS. The rules of functioning of these payment mechanisms are just same as any other bank.