In Mumbai and Delhi SBI has launched "Mobi-Cash Easy on a Pilot Basis" mobile wallet Service for their both customers i.e. SBI Customers or Non-SBI Customers. This new service and it is prepaid service for all customers allow to transfer money to any bank account or pay bills, recharge mobiles, and pay for digital TV and broadband connections all over India. The customers can also check their balance and the last five transactions they conducted through their mobile wallet. This service does not require any Know-Your-Customer (KYC) compliance. Customers can register themselves for SBMC Easy at any of the Oxigen retail outlet. With this, SBI plans to tap the migrant population who send money home frequently. “Even though the product can be used by any segment of the population, it is designed in such a way that it can help immensely the migrant labourers who generally do not carry any document to meet KYC compliance but always have a need to send money home,” SBI said in a statement.
As per Reserve Bank of India guidelines, customers cannot withdraw money from their wallet once it is deposited. At any time, the balance in the mobile wallet is capped at Rs 10,000 a month. The customers cannot send more than Rs 5,000 in a single transaction to another mobile wallet issued by SBI. In this servide three such transactions are allowed in a month.
For details go to your nearest branch and ask about it.
As per Reserve Bank of India guidelines, customers cannot withdraw money from their wallet once it is deposited. At any time, the balance in the mobile wallet is capped at Rs 10,000 a month. The customers cannot send more than Rs 5,000 in a single transaction to another mobile wallet issued by SBI. In this servide three such transactions are allowed in a month.
For details go to your nearest branch and ask about it.
