India’s largest public sector bank, State Bank of India (SBI), has announced the discontinuation of its mCASH facility, effective November 30, 2025. This decision will impact customers who use the feature to send and receive funds using just a mobile number or email ID, without needing to add beneficiaries.
In this blog, we explain what SBI’s mCASH facility is, how it worked, why it’s being phased out, and what alternative options are available for SBI customers.
🔍 What Is SBI mCASH?
mCASH is a digital payment service that allows SBI customers to send money to anyone using just their mobile number or email address, without requiring prior beneficiary registration. It was designed for small, quick, and one-time fund transfers.
Here’s how it worked:
- The sender logs into SBI Internet Banking (OnlineSBI) or the YONO Lite app and chooses the mCASH option.
- They enter the recipient’s mobile number or email and the transfer amount.
- The recipient receives a secure link and an 8-digit passcode via SMS or email.
- The recipient then uses the link or the mCASH app to claim the money, entering the passcode and their bank account details.
This convenience made mCASH popular among users who needed to send money urgently without adding a beneficiary.
📢 Why Is SBI Discontinuing mCASH?
SBI has announced that the mCASH facility will be permanently withdrawn after November 30, 2025. The reason cited is to enhance customer security and encourage users to adopt modern digital payment methods.
In an official statement, SBI mentioned:
“mCASH (Sending & Claiming) facility will not be available in Internet Banking (OnlineSBI) and YONO Lite app after 30.11.2025. Customers are requested to use secure and faster options like UPI, IMPS, NEFT, and RTGS.”
This move is part of SBI’s broader efforts to retire outdated payment systems and shift toward UPI-based and real-time transaction methods, which offer better fraud protection and faster settlements.
🔄 What Are the Alternatives to mCASH?
SBI encourages customers to use the following trusted alternatives:
1. UPI (Unified Payments Interface)
- SBI offers BHIM SBI Pay, a UPI app that allows instant transfers 24/7.
- You can send money using a recipient’s UPI ID, account number + IFSC, or by scanning a QR code.
- It’s secure, requires no beneficiary addition, and is ideal for replacing mCASH.
Steps to use UPI:
- Open BHIM SBI Pay or any UPI app.
- Select “Send Money.”
- Enter UPI ID or scan QR.
- Enter amount and your UPI PIN.
- Done! Instant transfer.
2. IMPS (Immediate Payment Service)
- Available 24×7, including holidays.
- Ideal for quick transfers up to ₹5 lakh.
- Requires account number and IFSC.
- Can be done via SBI Internet Banking or Mobile Banking.
3. NEFT (National Electronic Funds Transfer)
- Settles in hourly batches (24×7 available).
- Suitable for larger transfers.
- Requires adding beneficiary.
- Slight delay compared to UPI or IMPS.
4. RTGS (Real Time Gross Settlement)
- Best for high-value transfers above ₹2 lakh.
- Available 24×7.
- Real-time processing but only for registered beneficiaries.
📆 What SBI Customers Should Do Before November 30, 2025
To avoid disruption after mCASH is discontinued:
- ✅ Switch to UPI for small or instant payments.
- ✅ Start using IMPS for fast fund transfers with registered beneficiaries.
- ✅ Download and set up BHIM SBI Pay or use UPI features on YONO or other apps.
- ✅ Update mobile number and email in SBI account records for smooth app usage.
- ✅ Educate recipients to use UPI for easy and quick money claiming.
🧾 Final Thoughts
SBI’s move to discontinue mCASH reflects the evolving landscape of India’s digital payments. As UPI continues to dominate with its simplicity and security, phasing out legacy tools like mCASH ensures better protection for users and a more streamlined experience.
While change might feel inconvenient at first, the transition to modern, real-time payment systems will ultimately offer greater speed, control, and security for SBI customers.
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