INSUBCONTINENT EXCLUSIVE:
There is a minimum transaction limit of Rs 100.
State Bank Of India (SBI) customers can instantly
transfer funds to anybody, anywhere, anytime via Instant Money Transfer (IMT), as mentioned on country's largest lender's website-
For sending money to the sender, only beneficiary's mobile number, name and address are required
The receiver can withdraw the money through an SBI ATM without using a card
However, the beneficiary has to withdraw the whole amount in a single transaction only, informed SBI
The registration of the beneficiary by the sender is carried out by the system
It is vital to note here that an IMT once created cannot be cancelled
