SBH UPI

Digitisation had a great impact on private sector banks in the country but public sector banks are the ones that benefitted the most. This was a way to get rid of the perennial queues and it was very well-received. The country’s largest public sector bank, SBI (State Bank of India) has made payment and transfer methods such as UPI universal and extended its reach.

SBH (State Bank of Hyderabad) UPI is a platform for existing bank customers and also for customers of other banks to send and receive money immediately.

UPI is a platform which allows people to send and receive money from anywhere, anytime. It uses IMPS (Immediate Payment Service) as a medium to transfer funds between two parties. This usually does not require confidential bank details of the sender and receiver. However, UPI services from a few banks still require some of those details to initiate the transfer. Even so, with UPI, one can easily transfer a large sum of money in no time. Your unique UPI ID or VPA (Virtual Private Address) is used instead of your bank account number and IFS code to make the transfer.

• You can start by using the app and logging in with your internet banking ID and password.
• Next, it asks permission to send an SMS from your registered mobile phone number. You have to ensure that you have sufficient balance to send the message.
• After that, you will need to verify your mobile number through a prompt given by the app.
• Once your phone number is verified automatically, you have to create a virtual SBH UPI ID and MPIN. The SBH UPI ID will be your unique virtual address through which you can send and receive money. Your UPI ID or VPA has two parts like an email ID. It goes something like this – 12345678@upi. You can set whatever VPA you want on the basis of availability of Ids. No two bank accounts have same VPA. On the next page, you can see your bank account with only the last few digits visible. Choose this account and tap on register.
• Your MPIN is a 4 to 6 digit code that acts as a safety feature while transferring money. The app will ask for the MPIN at the final step of transaction every time you transfer funds. You can set up an MIPN by providing your debit card details. Then you can set your desired MPIN and the job is done.
• Once you have created your SBH UPI ID and MPIN, you are good to go. You can now transfer and receive funds using your ID wherever and whenever you want.

Using SBH UPI is fairly easy now that it is integrated with the SBI mobile banking. Most people use mobile banking already as it allows them to manage their bank accounts right from their home or office. No one has to go to ATM or call customer service for simple tasks like checking your account balance.

Using SBH UPI is quite simple as the basic requirement is to have the mobile banking facility activated on your bank account. After that, you can download the separate SBH UPI mobile app or use the one which comes integrated with SBI mobile banking app.

Some important factors related to the usage of SBH UPI are mentioned here:

• Users do not have to input any confidential information such as bank account number, IFS code, etc. when transferring funds. You simply have to enter that the registered mobile phone number of the receiver or their VPA to transfer money using UPI. This facilitates a secure transaction between the parties as there is no chance of hacking and information misuse.
• SBH UPI comes with a daily limit of Rs. 10,000 per transaction and a maximum of 5 debit transactions a day. However, you cannot transfer more than Rs. 10,000 over two or more transactions.
• You can also use the bank account number and IFS code of the receiver if they do not have an UPI address. This option comes in handy in many situations, especially when the receiver is not tech-savvy. However, to use this option you must have the bank account details of the receiver.

SBH UPI is not just a money transfer app but it is a dynamic app that has the ability to perform various other financial activities as well such as shopping, merchant payments and requesting funds.

You can request funds from your family members and friends through SBH UPI. This option is found in the “Collect Money” section of the app. You have to enter the VPA of the person whom you are requesting funds. The app will send a notification to the person and you will receive the amount if the person approves it.

In addition, you can pay for online shopping through the SBH UPI app on websites that support it. While paying for your purchases, you have to select the option for ‘Payment through UPI.’ The website uses UPI’s request money facility to receive such payments. You will receive a notification for the payment and you can then approve it. This function works on cash on delivery as well.