SBI To Discontinue mCASH Facility From November 30, 2025; Here's Why

The State Bank of India (SBI) has announced that it will discontinue mCASH (Sending & Claiming) facility in OnlineSBI & YONO Lite after November 30, 2025. The public lender has advised users to choose

alternative mode of transactions such as UPI, IMPS, NEFT, RTGS etc for transfer of money to third party beneficiaries.

“mCASH (Sending & Claiming) facility will not be available in OnlineSBI & YONO Lite after 30.11.2025. Please use alternate mode of transactions such as UPI, IMPS, NEFT, RTGS etc for transfer of money to third party beneficiaries,” SBI informed on its website.

mCASH is an instant money transfer service offered earlier by State Bank of India (SBI). It lets you send money to someone without needing their bank account details.

What Is SBI mCASH?

SBI YONO Lite users are allowed to transfer funds to a third party without registration of beneficiary by entering beneficiary mobile number or email-ID. Users can create mCash for a particular beneficiary using the link “mCash” available under “Fund Transfer” menu.

The service takes a nominal charges of Rs 2.50 per transaction.

At the beneficiary’s end, the receiver didn’t need an SBI account — any bank account was fine. Once the sender initiated an mCASH transfer, the recipient received a link either through SMS or email, depending on what the sender selected.

Along with the link, SBI also sent an 8-digit passcode. The receiver had to use this passcode on the State Bank mCASH page (available on the pre-login screen of OnlineSBI) or through the State Bank mCASH Android app.

SBI is shutting down mCASH from 30 November 2025 because:

UPI has taken over these kinds of small and quick transfers.

The facility is outdated compared to UPI/IMPS.