India's largest government bank, State Bank of India (SBI), has made an important announcement for millions of its customers. In light of the increasing reliance on digital payment systems, SBI has decided to discontinue its popular mCASH feature.
SBI Bank: State Bank of India (SBI), the largest government bank in the country, has made a significant announcement for its millions of customers. Amidst the growing era of digital banking and online transactions, SBI has decided to discontinue its popular mCASH feature. According to the bank, the mCASH service will no longer be available on the OnlineSBI and YONO Lite platforms after November 30, 2025, and will be permanently shut down from December 1, 2025. This announcement has raised concerns for millions of customers who used to transfer money through mCASH without registering any beneficiary.
What was mCASH and how did it work?
mCASH was an SBI digital feature that allowed customers to send money to anyone simply using their mobile number or email ID. This facility was particularly useful for instant or small transfers. The recipient could claim the amount in their bank account via a secure link and an 8-digit passcode.
The biggest advantage of mCASH was that it did not require beneficiary registration, making small transactions easy and fast.
Why is mCASH being discontinued?
In its official statement, SBI has stated that mCASH was based on older digital technology, and the bank is now focusing on more secure and faster digital transaction options. The bank has advised customers to now use modern and secure alternatives such as UPI, IMPS, NEFT, and RTGS. The bank's objective is to make digital transactions fast, secure, and easy, and the old mCASH system does not meet this standard.
How to transfer money now?
Following the discontinuation of mCASH, SBI has advised customers to adopt BHIM SBI Pay (UPI App), IMPS, and other digital modes. Here's how to send money via UPI:
- Log in to the BHIM SBI Pay app.
- Select the ‘Pay’ option.
- Choose one of the options: VPA, Account-IFSC, or QR code.
- Fill in the required details.
- Select the debit account and press the ‘tick mark’.
- Enter your UPI PIN.
- Complete the payment.
Transferring money through these digital options will be faster, more secure, and convenient. Customers who previously sent money via mCASH without beneficiary registration will now need to shift to alternative modes like UPI or IMPS. While the new options are more secure and faster, some users might miss the simplicity and instant transfer convenience of mCASH.
