How to send and receive money with SBI Buddy mobile wallet


Not sure how to use the SBI mobile wallet app? This article provides complete information on the features of SBI Buddy mobile wallet app and explains how to do transactions for sending & receiving money with it.

The State Bank of India (SBI) has been the pioneer in launching customer-friendly products & services. Now comes a cool new mobile wallet app called State Bank Buddy, launched in collaboration with MasterCard and Accenture. It is available in English & Hindi as well as various other Indian languages, namely: Gujarati, Marathi, Urdu, Punjabi, Oriya, Assamese, Bengali, Kannada, Malayalam, Tamil and Telugu.

Overview

The SBI Buddy app enables you to not just send money to other wallet users & bank accounts, but also book an air ticket (but not railway tickets) or hotel accommodation, shop using the app, etc. It is an anytime, anywhere buddy which comes with no fee. It is a wonderful help companion – just like a real life friend! The app itself has a useful Help & FAQs section where you can enter your questions or give suggestions & feedback.

A great security feature is the block wallet option which enables you to block your wallet if you have detected some fraudulent activity or have lost your PIN. You are also free to close your wallet at any time, provided the balance is nil. In case there is any balance, you must transfer the amount to a bank account or to another wallet before closure.

Brief features of SBI Buddy

  1. You can add money to your existing wallet fund.

  2. You can send money to another wallet user at any time you wish.

  3. You can send money to your bank account.

  4. You can view your statements.

  5. You can personalize it in your own way.

Requirements to use the wallet

  1. You should be an Indian national.

  2. You should be above the age of 10 years.

  3. You should have a valid mobile number.

  4. The hardware: You need a mobile phone which has the facility to download the SBI Buddy app.

  5. The communication service: You should have an active internet service. This could be 2G or 3G or 4G or Wi-Fi service.

Where to download the wallet app

You can visit the Apple App store or Google Play store depending on your phone and search for State Bank Buddy by using the keyword "State Bank". You can click on install and download the app.

Google Play Store: https://play.google.com/store/apps/details?id=com.sbi.erupee&hl=en

How to register & sign up

Before you sign up, make sure you read the terms & conditions at: https://www.sbi.co.in/buddy/Terms-and-Conditions.htm.

You have 2 options for registration / signing up for SBI Buddy. One is through Facebook, via your own username and password. The other is through your mobile number, email ID (optional) and the PIN/password.

As per the option you select, here is a step by step guidance:
  1. Step 1 via Facebook: On selecting the Facebook option, you will see the authentication page of Facebook Connect service. Here, you need to enter your Facebook username & password. In case you have already integrated your Facebook account, you will need to give permission to access the credentials to proceed with the sign up for the mWallet service.
    Step 1 via Sign up: On selecting the sign up option, you need to enter your mobile number & email ID.

  2. Step 2: Once the validation succeeds you will see your mobile number displayed. In case of the Facebook Connect option, you will need to enter your mobile number.

  3. Step 3: The next thing to do is to set up a PIN in order to access the mWallet service and for the authentication of transactions to proceed. Once this is done, you will receive a welcome message with a one-time password (an OTP) on your mobile phone via SMS and also at your email ID (if you have provided the email ID).

  4. Step 4: Now you must enter the OTP and then select from the options given in the drop-down list any Security Question. Type your answer to the question and submit the request.

Note: You will get 3 chances only to enter the correct OTP. On each occasion that you enter a wrong OTP, you will see the message requesting you to enter the correct OTP. If you miss out on all the 3 chances, then you will see the message to regenerate the OTP using the 'Resend OTP' option. You can use this option also in case you have not received the OTP.

That's it. Once your registration has been successfully established, you have been registered for the State Bank Buddy. You will know that it is successful through an SMS message on your mobile phone and/or via your email ID.



Troubleshooting Tips

Like any technology service, it is possible that you may face some problems with the SBI Buddy app. So here are some tips to deal with various types of problems:
  1. The first thing you need to do is the most obvious: you should have a proper operational data plan of your service network or functional Wi-Fi connectivity with access to the Net. What's more, you need to confirm that you are using the latest version of the SBI Buddy app.

  2. App opening problem: One of the major issues could be that the app does not open at all or in mid-use it suddenly shuts itself out. In that case, you could either simply close it & re-start it or uninstall the app itself and then re-install it again. You may need to shut down your smartphone itself and restart it again. You could also face issues if you have multiple apps running at one time, so perhaps closing the other apps will help you to use the SBI Buddy app.

  3. Password problem: In case of password errors check if your caps key is off. If necessary, you can reset your password. It also helps to upgrade your browser.

  4. PIN problem: When you find the PIN not being accepted, it could simply be a case of not entering the PIN number as it should be. That is, you must not have a PIN that is in a sequential order (such as 3456 or 7890). Nor should you have all the digits the same (such as 5555 or 8888).

  5. In case you have forgotten your PIN, you simply need to click on the link 'Forgot your PIN?' which appears on the sign-in screen. Then select your security question & enter the corresponding answer in the app. On doing this, a temporary PIN will be generated. This PIN will be sent to your contact mobile number which you provided when your registered for the wallet services. You can then use the temporary PIN, then enter an new PIN and confirm your new PIN. Hit the submit button and if it is all correct, you can go ahead and use the wallet.

How to use the SBI Buddy mobile wallet

Before you use the wallet, you obviously need to fill it! After all, it is a prepaid wallet and without any funds in it you cannot possibly conduct any transactions or transfer money to somebody. You have various options, namely Immediate Payment Service (IMPS), Debit Card and Net banking.

How to add money with IMPS option

You can add money to your wallet from your existing bank account by first selecting the IMPS payment option from the list provided in the app. Then enter the requisite payment information, for which you must provide these: (i) Mobile Money Identifier (MMID); (ii) mobile number; (iii) One Time Password (OTP) for MMID transactions.

How to add money with Internet banking option

You can add money to your wallet from your existing bank account through internet banking. For this, you must authenticate yourself by entering the INB (Internet Banking) login credentials. You need to select the payment option from the list for Net banking. Next, select your bank from the list of bank names that are provided in the list of options. Once you do so, you will be directed to the internet banking login page of your Bank. At this page, you must authenticate yourself providing your ID & requisite password to complete the transaction.

How to add money with Debit Card option

You have to select On the Add Money screen you have to select the payment option from the list provided (Debit Card). You will be then redirected to provide the card details like card number, card expiry, name on the card, Card Verification Value (CVV) and OTP (one time password which generated and sent by the card issuing bank/organization)

Now that you know how to fill up your SBI mobile wallet, you should know too what are the limits on the amount you can add to your wallet. The limits are as follows:
  • At any given time, the maximum balance that you can maintain is Rs.10,000.

  • You can top up the funds in your wallet via any channel with Rs.10,000 per transaction.

  • The total reload amount allowed in a single month is Rs.10,000.

  • The daily limit on total transactions, including fund transfers & merchant transactions is Rs. 15,000 and the monthly limit is Rs.20,000.

  • For transfer of funds, Rs.5,000 is the limit per transaction, as also the daily limit. The monthly limit is Rs.20,000.

Note: Cash out at an ATM is not allowed.

How to send money with the wallet

It is possible to send money to your contacts from your mobile wallet even if the recipient is not registered for SBI Buddy. All you need to do is to select the Send Money option and enter the information of the recipient's mobile number (you can also choose the contact number from your phone or from your Facebook contacts) and the amount to be sent.
In case the recipient is a registered customer, that is, is already having a State Bank Buddy wallet, then all you need to do is select the recipient's name from "Favourites" or type his/her name to select. Note that you do not need to know the bank account details of the recipient to send the money.

How to receive money through the wallet

Once you have sent the money to a recipient, you will receive a passcode. This passcode is required by the recipient to accept the payment which you sent. Hence, it is necessary that you inform the recipient what the passcode is.

On receiving the SMS or email about the money you sent, the recipient has to download the SBI Buddy app & register. Then the recipient has to select the menu titled Settings (this appears on the main screen at the top right hand corner). In Settings, he has to select 'My Payment Requests' & then enter the passcode which you gave, accepting the amount under 'Claim Money' option.
Note that the recipient is free to reject or accept the payment as per his/her wish. If kept pending, the payment request will automatically expire after 5 days. In that case (that is, if the money is not claimed by the recipient), then the amount goes back into your mobile wallet. An intimation of this credit will be sent to you.

How to recharge your mobile bill with the wallet

With the help of SBI Buddy, you can recharge your mobile phone account and your DTH account, as well as submit payments for a utility bill using the balance in your mobile wallet. You can use the Recharge & Pay option for:
  • Paying your Gas bill.

  • Paying your Electricity bill.

  • Recharging your pre-paid mobile connection.

  • Recharging your DTH connection.

The payment gets updated at the recipient's end (the biller) in about four to five days. In case your recharge / payment request gets rejected, you need to check if in error you used a post-paid mobile number or an invalid mobile number. You could also have entered the incorrect recharge amount or perhaps exceeded the requisite limits of the transaction request.

It is important to note here that if you do not enter the correct mobile number for prepaid recharge, the SBI Buddy app will not be able to reverse the transaction. That is, it cannot credit back to your wallet the amount since the processing takes place instantly. So whether you are entering the number or the amount, make sure that all the required details are entered properly before hitting the send button.

An SMS will be sent to you once the payment gets through successfully. In case the transaction has failed, the amount will be credited back to your wallet within 15 days. Also, if you find that there was no update in your mobile's talk time despite a successful payment with the wallet, then the amount you sent will get credited back to your account within 5 days. If this does not get credited, you need to call up the 24 hour service center.



How to use the wallet to send money to your bank account

You can use the 'Transfer to Account' facility of the SBI Buddy app to send money to your bank account at any bank via Immediate Payment Service (IMPS). Your 2 options are:
  1. IMPS – MMID (Mobile Money Identifier): You can send money using the beneficiary's MMID & Mobile number.

  2. IMPS – IFSC (Indian Financial System Code): You can send money using the beneficiary's Account Number and beneficiary bank.

How to use the wallet to check history of transactions

You can use the 'View Transaction History' option to check out the last 2 and up to maximum 25 transactions you made using the wallet. Simply log in to the app to use the feature.

How to use the payment requests feature

There are a number of options for using the payment requests feature, which are:
  1. Pay money requests: This enables you to know the payment requests for which you have to pay through your Buddy wallet against the pending 'Ask Money' requests sent to you.

  2. Receive money requests: This enables you to know the payment requests through which you have to receive money in your Buddy wallet against the pending 'Ask Money' requests sent by you.

  3. Claim money requests: This enables you to know the payment requests through which you have to claim money in your Buddy wallet against the pending 'Send Money' requests sent to you prior to sign up.

You can also accept, reject or send a reminder (for authorization) using the payment requests tab.

Contact information

For any queries or help with the SBI Buddy wallet, you can call SBI's 24X7 helpline number: 1800 11 2211 (toll-free) or 1800 425 3800 (toll-free) or 080-26599990.


Article by Vandana
Vandana is based in India with over 15 years experience as a freelance writer. Writing, no doubt, is her primary passion! Having learned the art of blogging from ISC, Vandana is enjoying the thrills of blogging, taking pleasure in sharing information & getting good pageviews at her various blogs.

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Comments

Guest Author: Gajanan16 Apr 2016

What is a Cvd2number?

Guest Author: Mohan Krishna Singh15 Dec 2016

How to transfer my wallet money to my bank account through SBI Buddy?



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