SBI Facility: If you are a customer of the country’s largest public sector bank, SBI, then this is very important news for you. SBI is about to make a significant change for its millions of customers. This announcement was made in light of the increasing use of digital payments. The bank has announced that it will completely discontinue the mCash feature. SBI has clearly stated that after November 30, 2025, the facility to send or claim money through mCASH will no longer be available on the Online SBI and YONO Lite platforms. This means that this service will be completely discontinued from December 1st, 2025. Customers whose banking work depended on this feature will have to use other digital means.
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Learn what mCASH does
Mcash was a facility that allowed SBI customers to send money using just their email and mobile number. This service was considered very beneficial for small transactions. Whenever a customer transferred money through mCASH, the recipient received a link and an eight-digit passcode, which allowed the transfer to any of their bank accounts.
Why is this service being discontinued?
SBI issued a statement stating that the bank would be discontinuing this feature after November 30, 2025. Customers have been advised to utilise various payment options, including UPI, IMPS, NEFT, and RTGS. While mCASH works in the old-fashioned way, making payments has become much faster and more secure these days.
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Customer Instructions
The bank has clearly instructed customers to start using BHIM SBI Pay, the UPI app, IMPS, and other electronic transfer services for digital payments. Making payments through UPI is easy, and users can easily transfer money using VPA, QR code, account number, and IFS.
The closure of mCash will most impact those who used the direct money transfer feature without any beneficiary registration. While options like UPI and IMPS are considered extremely safe and fast, the termination of mCash will require some users to adjust their banking habits.
