MOBILE BANKING SERVICES
State Bank FreedoM – Your Mobile Your Bank
Away from home, bills can be paid or money sent to the loved ones or balance enquiries done anytime 24x7!!! That is what State Bank FreedoM offers -convenience, simple, secure, anytime and anywhere banking.
The service is presently available on java enabled mobile phones over SMS/ GPRS/ WAP as also non java phones with GPRS connection. The service can be availed over the free GPRS facilities offered by various mobile service providers. The services for other non-Java mobile phones are under development and will be offered using Unstructured Supplementary Services Data (USSD).
The following functionalities will be provided in the Phase I:
- Funds transfer (within and outside the bank –using NEFT)
- Enquiry services (Balance enquiry/ Mini statement)
- Request services (cheque book request)
- Bill Payment (Utility bills, credit cards)
- M Commerce (Mobile Top Up, Merchant payment, SBI life insurance premium)
· The Mobile Banking Service will be available to all the customers having a satisfactory running account (Current/ Savings). The customers will have to register for the services.
· Daily transaction limits for fund transfer and bill/ merchant payment will be Rs.50,000/-per customer with an overall calendar month limit of Rs.2,50,000/-
· The service will be carrier-agnostic i.e. all customers can avail the mobile banking service with the Bank irrespective of the service provider for their mobiles.
· The service is free of charge. However, the cost of SMS / GPRS connectivity will have to be borne by the customer.
National Payment Corporation of India (NPCI) has offered Banks and Financial Institutions a new payment service called “Immediate Payment Service (IMPS)”. Our Bank has gone live on March 28, 2012 in IMPS through Mobile Banking Service.
Currently majority of interbank mobile fund transfer transactions are channelised through NEFT mechanism. Under NEFT, the transactions are processed and settled in batches, hence are not real time. Also, the transactions can be done only during the working hours of the RTGS system
IMPS offer an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put interbank fund transfers in a secured manner with immediate confirmation features.
The advantages of IMPS are that there is no need to register the payee / beneficiary and transfer of funds is real time. Customers can send / receive money using mobile number and an additional 7 digit Mobile Money Identifier (MMID) number.
Contact your nearest Branch of State Bank of Mysore
State Bank of Mysore
H .O.: K.G.Road, Bangalore - 560254, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473
Fax: 91 80 22283684