SBI ALERT: In a big relief for its customers, the State Bank of India (SBI) has announced the waiver of SMS charges for mobile fund transfers. This simply means that the customers of India's largest lender can now conveniently transact without any additional charges. “SMS charges now waived off on mobile fund transfers! Users can now conveniently transact without any additional charges using USSD services," the bank said in a tweet.

What is USSD?

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USSD or Unstructured Supplementary Service Data is a technology that is available on all mobile phones with an SMS facility. This is generally used to check talk time balance or account information along with other mobile banking transactions. USSD is a very beneficial/ facility for those using features phones. It is worth mentioning that around 65% of the country's population use mobile phones.

How to use it?

In order to avail of the service, SBI customers simply need to dial *99#. The service is absolutely free.

*99# Services:

- Send money

- Request money

- Check account balance

- Get mini statement

- Check UPI PIN

It is important to note that in order to avail of the service, customers need to have their mobile number linked to their bank account. Also, they must have an ATM/debit card.

Registration process for USSD

1. SBI customers need to send to 9223440000. User ID and default MPIN will be sent shortly.

2. Change the default MPIN:

- Dial *595#.

- Enter user ID and then select option 4.

- Enter the default MPIN received over SMS and send.

- Enter new six digits or characters MPIN and send.

- Confirm new PMIN and SEND

- You will receive a msg stating that 'Your MPIN is changed.

3. Register at ATM/ Internet Banking/ Branch

At the ATM: Visit the nearest bank ATM and swipe the Debit Card. Now select mobile registration > mobile banking > Registration > enter your mobile number and confirm.

Online: Log in to your SBI account > select eServices > State Bank Freedom from the list on the left side > Registration > Enter User ID and mobile number > Select the account (only SB/ CA) to be enabled > submit.

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