SBI to discontinue mCASH service from December 1, impacting banking services

SBI New Change: The country's largest public sector bank, the State Bank of India (SBI), has made a major announcement for its crores of customers. The bank is completely shutting down its mCASH facility. After November 30, 2025, the facility to send or claim money via mCASH on OnlineSBI and YONO Lite app will no longer be available. This means the service will be permanently closed from December 1, 2025.

What is mCASH?

mCASH was a simple digital facility by SBI, through which customers could transfer money to anyone using just a mobile number or email ID without registering a beneficiary. It provided a secure link and an 8-digit passcode. Through this, the money could be claimed in any bank account. This service is particularly beneficial for fast and small transfers.

Why is mCASH Being Shut Down?

SBI has clarified on its official website that mCASH was based on an old digital infrastructure. The bank is phasing it out due to the increasing security needs in digital payments. The bank states, "Customers should now adopt secure and faster options like UPI, IMPS, NEFT, and RTGS."

The Easy Way of UPI

SBI has advised customers to use BHIM SBI Pay (UPI app).

• Log in to the BHIM SBI Pay app.
• Select the ‘Pay’ option.
• Choose one from VPA / Account+IFSC / QR Code.
• Fill in the necessary details.
• Select the debit account → press the tick mark.
• Enter the UPI PIN.
• Confirm the payment.

Impact on Customers?

Those who used to send money via mCASH without registration will now have to switch to UPI or IMPS. The new system is more secure and faster, but some users might face inconvenience initially. SBI has appealed to all customers to adopt alternative methods before November 30.