FAQ – SBI PAY Frequently Asked Questions

1. What is SBI Pay (UPI App of SBI)?

Ans: “SBI Pay” (UPI App of SBI) is a payment solution that allows account holders of Banks participating in UPI to send and receive money from their smartphones with a virtual payment address which is the identifier. No additional details are required to be used other than the Virtual payment address.

2. How is UPI different from IMPS?

UPI is providing additional benefits to IMPS in the following ways:

· Provides for a P2P Pull functionality

· Simplifies Merchant Payments

· Single APP for money transfer

· Single click two factor authentication.

3. How is SBI Pay different from other payment solutions/apps?

Ans. SBI Pay provides the flexibility of making payments at your convenience on all 365 days of the year. You can transfer funds using your SBI Pay app to your friend/relative by knowing only their VPA. You need not know the receiver’s account number, IFSC code or any other such Banking details.

4. What is a Virtual Payment Address (VPA)?

Ans. "Virtual Payment Address" is a virtual id that takes a form of uniqueid@sbi wherein “uniqueid”is a unique name that you can choose for yourself. Our UPI app “SBI Pay” gives customers the option to create any number of virtual addresses so that they can use the virtual address for making and receiving payments and transacting with UPI integrated merchants. Eg: ramesh@sbi, nimisha@sbi.

5. Does a customer need to register before remitting funds using UPI?

Yes, a customer needs to register with his/her PSP before remitting funds using UPI and link his accounts

6. How can I generate a Virtual Payment Address?

Ans:

1. Download the SBI Pay App from App Store.

2. On app start up, confirmation message for SMS to be sent for registration will be displayed.

3. On clicking YES, registration page is displayed where the customer enters the following details:

a. Preferred Virtual Address b. First Name c. Last Name d. Email

e. Security Question f. Security Answer g. Bank Name (where the customer holds the account)

4. On completion of above details, customer clicks on “Next” button and SBI Pay App submits the above details to UPI Engine for registration.

5. Select Account and Click Register

7. I have account with ‘XYZ’ bank. Can I transact with it using SBI UPI?

Ans: Yes, you can do transactions in your ‘XYZ’ bank account using SBI UPI. In this case the XYZ banks needs to be on UPI platform. Here SBI will be the Payment Service Provider (PSP) and ‘XYZ’ bank will be called as payer/payee Bank.

8. Can I link more than one account to a single virtual payment address?

Ans: Yes, several bank accounts can be linked to the same virtual address depending on the functionality/ies being made available by the respective PSPs.

9. Can customer link his wallet to UPI?

No, customer cannot link a wallet to UPI, only bank accounts can be added.

10. Can I use more than one UPI application on the same mobile if they are linked to different bank accounts?

Yes, one can use more than one UPI application on the same mobile and link both same as well as different accounts.

11. Does the customer need to register a beneficiary before transferring funds through UPI? What details of beneficiary will be required?

No, registration of Beneficiary is not required for transferring funds through UPI as the fund would be transferred on the basis of Virtual ID/ Account+IFSC / Mobile No+MMID / Aadhar Number. (Please check with your PSP and Issuing bank with regard to the services enabled on the App).

12. Does the beneficiary also have to register for UPI for receiving funds?

In case of Virtual ID transaction, the beneficiary needs to have a Virtual ID and in turn be registered with UPI but in case of Account+IFSC or Mobile+MMID, Aadhar number, the beneficiary need not be registered for UPI. (Please check with your PSP and Issuing bank with regard to the services enabled on the App)

13. What details do I need to either send money or request money?

Ans: You need the virtual payment address of the beneficiary or the remitter. You don’t need any other details apart from the virtual payment address to initiate a transaction.

14. Is there a limit on the value of transactions when I am sending or requesting money using UPI?

Ans. Presently, There is a limit of Rs. 10,000/- per transaction in SBI Pay.

15. What happens if my mobile phone is lost?

In case of mobile loss, one needs to simply block his mobile number thus no transaction can be initiated from the same mobile number which is a part of device tracking and at the same time MPIN would be required for any transaction which is not to be shared with anyone.

16. What are the different channels for transferring funds using SBI Pay?

Ans: The different channels for transferring funds using SBI Pay are:

· Transfer through Virtual ID

· Account Number + IFSC

· Mobile Number + MMID

· Aadhar Number

· Collect / Pull money basis Virtual ID

Currently only Account Number + IFSC and Transfer through Virtual Payment address are enabled in first phase of rollout.

17. What if my account is debited but the transaction does not go through?

Ans: UPI provides for real time reversals for technical declines and amount would be transferred back to the payer account immediately

18. Can I put a stop payment request for funds transferred by UPI?

Ans: No, once the payment is initiated, it cannot be stopped.

19. If I have any issue with UPI transactions, how can I raise a complaint?

Ans:

1. Login to SBI Pay

2. Navigate to My UPI Transactions

3. Click Raise Query button for transaction

4. Select Query type, enter Remark.

5. Click Submit

20. I have 2 accounts with SBI, do I need separate virtual payment addresses for each of these accounts?

Ans: You can either create 2 separate VPAs for the 2 accounts or you can link both the accounts to a single VPA.

21. I intend to add multiple accounts from other banks to SBI. Do I need a separate virtual payment address for each of these accounts?

Ans: You have the choice of creating multiple VPAs for each account or you can link all the account to a single account.

22. Can I transfer money abroad using SBI Pay?

Ans: No

23. Can I link my NRE/NRO accounts in SBI Pay?

Ans: No

24. Can the merchants also have a UPI virtual payment address (ie handle)?

Ans: No

25. Where do I register a complaint with reference to the UPI transaction?

You can raise your grievance or check status of UPI transaction through the UPI App of the participating banks and also mail on support.upi@sbi.co.in

26. If I change my UPI app will I be required to register again or I can carry the same virtual address?

In case of change in UPI App, a person needs to re-register and it depends on the PSP whether same virtual ID can be used with necessary checks they can establish.

27. What happens if I forget my pin?

In case someone forgets the MPIN, he needs to re-generate new PIN.

28. Will I be able to use UPI after I change my sim or mobile?

In case of change in sim/mobile/application of the PSP, customer would require to re-register themselves for UPI.

29. Will I be able to use UPI across all Mobile platforms?

Yes, UPI is available on Android and it will be made available on IOS soon.

30. What is the timeline to approve a collect request by a payer?

The timeline to approve a collect request needs to be defined by the requester.

31. In case my mobile is used by another person, will there be any security breach?

In any transaction through UPI, PIN would be required which needs to be fed through the mobile at the time of any transaction making it safe and secured.

32. How can I change my Default A/c?

Ans:

1. Login to SBI Pay App

2. Navigate to Account Management

3. Select Account from dropdown

4. Click Preferred Account Button

33. How can I transfer using a Virtual Payment Address?

Ans:

1. Login to SBI Pay App

2. Navigate to Pay

3. Select Account, Payee Address type.

4. Enter other required details

5. Click Pay

6. Enter MPIN

7. Click Submit

34. How can I receive money using a Virtual Payment Address?

Ans:

1. Login to SBI Pay App

2. Navigate to Collect

3. Enter Payer Virtual Address

4. Enter other required details

5. Click Initiate Collect

6. One can receive money after Payer approves Collect request

35. How do I respond to a collect pay request that has been sent to me?

Ans:

1. Login to SBI Pay App

2. Navigate to Approve

3. Select Collect request

4. Click Approve/Reject

5. Need to enter MPIN for Approve

36. How can I track my transaction status?

Ans:

1. Login to SBI Pay App

2. Navigate to My UPI Transactions

37. If I have more than one account linked to a Virtual Payment Address, how do I select the account from which I want to send money to a beneficiary?

Ans: From Account Management, Set Preferred Account for Transactions.