The largest state run lender announced that it has increased the limit for fund transfer using Quick transfer feature that can be tapped both via mobile app as well as on web. The quick transfer feature of the bank provides faster fund transfer facility as it does away with the need to register the user and hence the fund transfer is effected quickly.
In a tweet, it said that using the Quick Transfer functionality of the bank, customers can now transfer upto Rs. 25000 in a day. The process is helpful as the online customer does not needs to go through the long procedure of adding a beneficiary in the otherwise mandated process which requires ample time. Also, after the registration of the beneficiary gets completed, you need to wait for the bank to confirm when the transfer can be made.
For its Quick Transfer functionality the bank has raised its per transaction limit from the earlier Rs. 5000 to Rs. 10000.
Also, to boost the digital transactions drive, the largest state-run banking entity has introduced an app which enables fund transfer using the account details on social networking sites such as twitter and Facebook. Another app Mingle has been unleashed by the bank that allows users to transfer funds to its contacts on social media platform.