We know that in order to transfer payments from an SBI account via online banking, we must first add the beneficiary to the beneficiary list. After we’ve added the beneficiary to our SBI account, we may transfer money with just a few clicks. You don’t have to add a beneficiary every time you want to send money.
We set a transfer limit for the recipient when we add them to SBI internet banking. We can’t transfer more money to that person than the limit allows. As a result, if the amount transferred exceeds the limit, the beneficiary’s limit must be increased. We do not need to delete the beneficiary while increasing the beneficiary limit. We’ll simply change the beneficiary limit.
You can adjust your beneficiary limit if you are an SBI customer and use SBI internet banking. To learn how to extend your SBI transfer limit, follow the instructions below. Here’s how to increase your transaction limit in SBI net banking, step by step.
How To Change Beneficiary limit in SBI Net Banking
Step 1: Log in to your SBI internet banking account using your user ID and password. You’ve arrived at the home page for internet banking. Select ‘My Accounts and Profile’ from the drop-down menu. There will be another option ‘Profile’ under this choice ‘My Accounts and Profile.’ Click on it.
Step 2: Additional options will display on this page. Select the option to Add and manage beneficiaries from the drop-down menu. You’ll be prompted to enter your profile password on the following page. Click ‘Submit’ after entering the profile password.
Step 3: You will be taken to the ‘Add and manage beneficiary’ page in this step. You’ll find a variety of possibilities here. If the beneficiary for whom you want to adjust the transfer limit is an SBI account holder, select ‘SBI Beneficiary (SBI Account holder)’; if your account is with another bank, such as ICICI, Central Bank, or HDFC, select ‘Other Bank Beneficiary (Account holder of other banks)’. If your beneficiary is not one of the above-mentioned possibilities, select that option from the drop-down menu.
Step 4: On the upper bar of the page, after clicking on the beneficiary type in the previous step, you will see the options Add, Modify, Delete, View, and Approve. Here, select the ‘Modify’ option.
Step 5: After selecting Modify a list of beneficiaries under the specified category will appear. Click ‘Go’ after selecting the beneficiary for whom you want to adjust the beneficiary limit.
Step 6: Under the beneficiaries list, a new form will appear. By selecting the Change option next to the transfer limit, you may change the beneficiary name and transfer limit. Change the limit by selecting the change option and entering the new value. Finally, select Modify. A message will appear stating that the specified beneficiary’s limit has been changed.
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