SBI going to discontinue this facility, know What will be the impact on customers
State Bank of India: State Bank of India (SBI) is discontinuing the mCASH sending and claiming feature on OnlineSBI and YONO Lite after November 30, 2025. This means that customers will no longer be able to send money or claim funds sent through the mCASH link or app without beneficiary registration after this date.
SBI Appeals to Customers: In a message on its official website, SBI has urged its customers to use secure and widely used digital payment platforms like UPI, IMPS, NEFT, and RTGS to transfer money to third-party beneficiaries. According to the message on the SBI website, the mCASH (sending and claiming) feature will no longer be available on OnlineSBI and YONO Lite after November 30, 2025. Please use other transaction modes like UPI, IMPS, NEFT, and RTGS to transfer money to third-party beneficiaries.
What is mCASH? mCASH is a facility used by SBI customers to make quick payments. One of its key features is that SBI customers can send money using just a mobile number or email ID without registering a beneficiary. However, due to the increasing reach of new technologies and security concerns, this service is now being discontinued. Instead, you can use UPI or IMPS for payments. If transferring a larger amount, NEFT and RTGS are considered safer options.
McASH Features?
- You can claim money sent by an SBI customer using a passcode.
- You can transfer the claimed amount to any of your bank accounts.
- You can set the account number and IFSC code as favorites for future claims.
