North India Statesman
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The country’s largest public sector bank ‘State Bank of India’ (SBI) has made an important announcement for millions of its customers. Amid increasing dependence on digital payment systems, SBI has decided to discontinue its popular ‘mCASH’ facility.
There will be a big change in banking operations
The bank has said that after November 30, 2025, the facility to send and claim mCASH on OnlineSBI and YONO Lite will not be available. This means that if you were using this facility, you may see changes in your banking operations in the coming days.
SBI customer worried
mCASH was a facility through which SBI customers could send money to anyone using just their mobile number or email ID, without registering any beneficiary. Additionally, the recipient gets a secure link and 8-digit passcode through which they can claim their money in any bank account.
Why will the mCASH system be shut down?
SBI said on its website that this facility will be discontinued after November 30, 2025 and customers should use advance payment options like UPI, IMPS, NEFT and RTGS. The aim of the bank is to make digital transactions more secure and faster. Additionally, it is important to note that the mCASH system was operating on an old digital infrastructure.
How to transfer money now?
After mCASH closure, SBI has advised customers to use BHIM SBI Pay (UPI app), IMPS and other digital means. Follow the steps given below to send money using UPI:
- Log in to ‘BHIM SBI Pay’ app
- Select ‘Payment’ option.
- VPA, Account IFSC, or QR Code (choose one option)
- Fill in the required information.
- Select debit account and press ‘tick mark’
- Enter UPI PIN
- Full payment.
It is worth noting that those who were sending money through mCASH without adding a beneficiary will now have to adopt options like UPI or IMPS. At first glance, this new option is more secure and faster, but the closure of mCASH feature may cause problems to some people.
