EFT Customer Notification

Dear Customer,

As an ongoing endeavor to improve our services and to add value to our products, we are pleased to announce the launch of Electronic Clearing System(ECS) w e f 12th Oct 2009.With this facility enabled you can transfer money directly in or out of your account in State Bank of India and give Debit orders/Stop Orders to your service providers other banks.

However, the enabling of this facility has also entailed some changes in the way your account number would be used for setting up of Debit/Stop orders by other banks and for sending money into your State Bank of India account.
A. Sending money OUT of your SBI account –

I. Over the counter transactions- No Change. You will give us instructions as hitherto,
II. Internet banking transactions - This functionality has been launched w e f 05th March 2010 and all accounts opened from that date onwards are being given transaction rights. In case you still have only enquiry rights and want to have transaction rights on internet banking , please contact us on 0027 11 7784500/ 4518 or write to ambanking3.rsa@statebank.com.

B. Transferring money INTO your SBI account –

I. Cash and Cheque deposit- No Change. You will continue to deposit Cash/Cheque in account number 01068290801 of SBI at ABSA Branch code 0632005 with your SBI account number mentioned in the reference number field(full 14 digits).
II. Electronic Transfers and giving Debit / Stop Orders – First 03 digits of your existing account number i.e 326 is NOT to be used.

For example if your SBI account number is 32620042040101 use only 20042040101(must be 11 digit) for the purpose mentioned at B(ii).

STATE BANK OF INDIA – BANK CODE - 210053
BRANCH CODE - 801 000

CHARGES:

Outward credit- R 5.00 per transaction, Outward debit – R 5.00 per transaction
Inward credit- No charge , Inward debit – R 5.00 per transaction
Stop order – R 5.00 per establishment and cancellation
Debit order establishment, cancellation – R 5.00 per transaction
Dishonored item (both unpaid debit and unpaid credit) – R 100.00 per transaction
Stop payment – R 30.00 per establishment and cancellation

TIMINGS

Any outward transaction (from SBI) done AFTER 2.30 PM will be taken in NEXT settlement date. Saturday will not be a settlement day for State Bank of India.
For any further clarification and query please feel free to call on 011 7784 500 or 031 201 9974 or 021 421 3498.