SBI or State Bank of India offers a mobile app that lets users transfer funds using a virtual payment address or a bank account along with the IFSC code. This was said by the country's largest bank on microblogging site Twitter. Called BHIM SBI Pay, the mobile app is based on the Unified Payments Interface or UPI, a system that enables transfer of funds between accounts of different banks into a single mobile application. In order to send or request funds using the BHIM SBI Pay app, the user has to make sure that his or her mobile number is linked to the bank account and he or she is in possession of the debit card linked to the account.
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Here are 10 things to know about mobile app BHIM SBI Pay:
1. Money transfer limit of BHIM SBI Pay
2. Additional functions of BHIM SBI Pay
3. Mode of transfer via BHIM SBI Pay
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4. Who can use BHIM SBI Pay
5. Virtual Payment Address under BHIM SBI Pay
6. How many accounts can be linked with BHIM SBI Pay
7. Lost mobile phone
8. Reversal of payment
9. How to change default account
10. How to transfer (send or receive) money via BHIM SBI Pay
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