SBI, BSNL Launch State Bank MobiCash Wallet For Mobile Phones: Get to Know How it Works

Following demonetization, State Bank of India in association with Bharat Sanchar Nigam Limited (BSNL) introduced a new mobile wallet called the State Bank MobiCash for both smartphone and feature phone users.

State Bank MobiCash has been made available only in Punjab, Rajasthan, Haryana, and Bihar, and is expected to expand pan-India by the end of December. The wallet will let the users deposit and withdraw cash through BSNL retail outlets.

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The mobile wallet is menu driven and user-friendly, and also enables users to transfer funds, recharge mobile numbers for BSNL Prepaid, pay BSNL landline and Postpaid bills, opt for balance inquiry and mini statement. It can also be used in self-mode as well as assisted mode with the help of BSNL Customer Service Point (CSPs), and can also be upgraded to a full-KYC wallet, which will help users with higher transaction limits and cash withdrawal at BSNL CSPs.

How to Activate the MobiCash App

#1 Visit the SBI MobiCash CSPs of Oxigen.

#2 Fill the Account Opening Form for MobiCash and submit the filled form along with the KYC documents, which includes ID and address proofs.

#3 There will be two options in the application to activate the app including GPRS and SMS. The users can choose any as per their requirements. For users with no internet connectivity, SMS is the best option.

#4 The next step is to deposit the amount for loading the Mobile Wallet with the CSP.

#5 Users will be required to visit the branch linked with the CSP for completion of the KYC verification along with the originals of the KYC documents submitted to the CSP. The wallet will be activated after the linked branch completes the verification based on the original KYC documents.

#6 After which the users will receive a 6 digit default MPIN and a 12 digit Wallet ID.

Note: Change the default MPIN before using the facilities and don't do not disclose it to anyone, recommends SBI.

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Download the State Bank MobiCash Application

#1 On sending an SMS to 9870888888/9967878888, the users will receive a return SMS containing a link accessing which the users can download the Mobile Wallet app using the GPRS connection

Download the State Bank MobiCash over SMS

#1 The customers can also opt for SMS channel for using State Bank MobiCash. The users will just have to send an SMS to 9418399999.

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