How to move Your SBI Savings Account From One Branch to Another Online
If you have a savings account with the State Bank of India (SBI) and want to move it to another branch, you can do so online within a week and that too without any charges involved. You don’t already need to visit your bank branch to perform formalities as by internet you can perform all formalities from anywhere in India.
If you want to move your SBI savings account to a different branch, below we have listed the time of action on how to do it online. But before that let’s understand a few prerequisites that must be fulfilled to successfully move your account to another branch.
Things to know before you start with the move course of action
Below is the list of things that you must know before you proceed to move your SBI savings account online:
• The option to move your SBI bank account online is obtainable only for savings accounts.
• The SBI accounts that are inoperative or KYC (know-your-customer) deficient do not qualify for this facility.
• Another important prerequisite to start with the SBI savings account move online course of action is that the account holder’s mobile number must be registered with the bank.
• The account holder must also have the access to SBI Net Banking facility.
• Before starting the account move course of action online, be ready with the branch code to which you wish to move the SBI savings account to.
• You may already call SBI customer care to get the information.
course of action to move SBI Savings Account to another Branch Online
• Go to http://www.onlinesbi.com.
• Select ‘Personal Banking’.
• Login to your Net Banking account with your username and password.
• On the top panel, select ‘e-sets’ tab.
• Select ‘move of savings account’.
Now you’ll be directed to another page, which will characterize your account details such as bank account number and bank branch name. It will characterize all your SBI savings accounts (if you have more than one).
• Select the savings account that you wish to move to another branch.
• go into the branch code where you wish to move your account.
• Verify the account move details using both existing and new branch codes.
• Click on the ‘Confirm’ button.
• An OTP will be generated and sent to your registered mobile number.
• go into the OTP received on your mobile number
• Click on the ‘Confirm’ button.
the time of action completes with a message ‘Your branch move request has been successfully registered’.
• If you have only one account or if you want to move all your accounts from one branch to another, the CIF (Customer Information File) must be necessarily transferred to the new branch. Your CIF includes details of all your bank accounts.
• After the time of action, your account number and CIF will keep the same but your bank’s IFSC code will change as it is branch specific. Before the account move, if you have given your bank’s the IFSC code to other financial institutions such as mutual funds or the Income Tax Department then you will have to update them of the new code once it has been changed. It is important to inform the concerned financial institutions about the branch code change so that they can revise their existing ECS and other standing instructions.
• move of a SBI savings account from one branch to another may take a week’s time. Once the move has completed, you will be able to see the new branch name after entering in your Net Banking account.