SBI and MasterCard offer money transfer facility by debit card
By Ankit Sharma
Dec 12, 2007
Print    Email    RSS   

New Delhi: MoneySend, a new money transfer facility was launched by SBI today in association with MasterCard. Aimed towards making the money transfer process more simple, this facility allows a person to transfer funds. SBI debit card holders can now transfer money to other MasterCard credit or debit card the first time in the entire Asia-Pacific, Middle-East and Africa Region.

Nitin Gupta, GM South Asia, MasterCard Worldwide said, "These transfers can be made by using ATM, branch banking, Internet or mobile phones to account holder of any bank. There is an instant verification after the transaction is completed using MoneySend. The whole process is entirely safe and transparent as the funds are transferred from one bank account to another."

However, this service is not free and Rs. 20 will be charged for transactions involving funds up to Rs.25,000, Rs.30 will be charged if the amount transferred lies between Rs.25,000 to Rs.50,000. There is an upper limit of Rs. 50,000 to the amount that can be transferred during a day using MoneySend.

Over the past few years debit cards have become a popular means for withdrawing funds and ATMs are used for most of the withdrawal needs. With the SBI network spanning over 5,500 ATMs and 9,177 branches, besides over 3,500 branches of its subsidiaries, SBI is totally equipped to offer this service to its large consumer base. This MoneySend scheme will add another dimension to the usability of MasterCard or Maestro cardholders as they will be able to transfer amounts in a secure and hassle free manner to their loved ones.

(Comments Posted : 27) Post Your Comments
1. How to send sbi debit card to syndicate bank a/c? plz reply immediately.
mugunthan (Posted: Aug 2, 2014)
2. can you please tell me how to trasfer money from one debit card to another debit card both are belongs to sbi, using card details.. with out having internet banking fecility but through online..
haritha (Posted: Oct 18, 2013)
3. its very easy to transfer fund from card to card it take just one minute, but can be transfer fund from SBI debit card to other bank account. plz reply
Rishi Sharma (Posted: Jul 23, 2013)
Show All Comments
 Select a product:

 Select a product:

Safety tips to use plastic money online
An Insight into Credit Card Balance Transfer
Live in Style - Lifestyle credit cards
Tips to reduce Auto Insurance Premium
Spoiled credit history? - Get a secured...

Canada {{+919799005597}} Love vashikaran specialist...
Pune Hot Russian Indian Model Escorts In Wakad...
PuNe~(((LOvE mArRiAgE sPeCIaLIsT bAbAjI +91-8968172108
08196881150 Amritsar Call Girls 08196881150 ,...
CaℒL GiℛℒS In Ludhiana O9915682OO2 EsCoRt In...
shimla: escort services O97801-03808 CaℒL...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive