MMID SBI: How to Find MMID in SBI [7 Easy Steps]

MMID SBI

Introduction

Generally, while making Bank transfers from one account to another through National Electronic Fund Transfer (NEFT), Real-time Gross Settlement (RTGS), and Immediate Payment Service (IMPS).

I think, most people were aware of these 3 popular banking methods. They almost ruled the Banking Industry and still, these 3 modes of transfers are leading to major money transfers.

If you make any Bank transfer, you should make it by using any of the above-mentioned methods of fund transfer. Also, the sender of the money should have a Beneficiary Name, Bank Account number, Mobile number, and IFSC Code to make a successful fund transfer.

But, Even though the sender doesn’t have all the beneficiary details, still they can make a successful bank transfer using MMID.

In this post, let’s discuss What is MMID, its Purpose, Benefits, and How to Find MMID in SBI.

Let’s get started..!!

What does an MMID Means?

– MMID means “Mobile Money Identifier”.
– It is a 7-digit Numerical number.
– Issued by the Banker to its Bank account holders.

What is the Purpose of MMID?

Usually, we make money transfers through RTGS, NEFT, and IMPS.

To make any of these fund transfers, the sender should have all the beneficiary details like
1. Beneficiary Name,
2. Beneficiary Bank Account number,
3. Beneficiary Mobile Number and
3. Beneficiary bank IFSC Code.

If the sender doesn’t have all these details, then, he might doubt the accuracy of the fund transfer. i.e. It may lead to Wrong bank transfers.

But still, the sender can transfer money..!!

Are you talking about UPI apps like PhonePe, and Google Pay..!
No. I’m still talking about Banking apps only..!!

Keep on reading..!!

As the Banking industry is emerging, the Reserve Bank of India allowed Banks and Financial institutions to make fund transfers through this MMID.

MMID allows the sender not to enter all the details mentioned above to make a successful fund transfer.

Simply, the sender of money needs to enter the 7-digit MMID of the beneficiary. Then, the sender can make a successful fund transfer without any hassle.

That’s cool. Right !!

I’m a customer of State Bank of India (SBI) but I don’t know where can I get my MMID in SBI.
Don’t worry my friend.. Just follow the below simple process to get your MMID in the next 2 minutes.

7 Basic Steps on How to Find MMID in SBI

Let’s follow these 7 Basic steps on How to Find MMID in SBI.

Step 1:

Download Yono Lite SBI
Open the “Yono Lite SBI – Mobile Banking” app on your Android / IOS Mobile. Login into Yono SBI by entering your SBI Login Credentials like Username & Password.

Step 2:

Now, you can see multiple options.
Tap on the “My Accounts” option which appears on the dashboard.

Step 3:

After logging in, the SBI Yono dashboard will appear. Now just tap on the menu which appears with 3 lines on the top left.

Step 4:

After that, you will find multiple options. There you tap on the “Service request” option.

Step 5:

Then, another screen will be opened along with multiple services.
Now, Select the “Settings” option.

Step 6:

Later on, tap on the “View MMID” option which appears under the “Payments” section at the top.

Step 7:

That’s it, you can successfully view your 7-digit MMID which will be displayed on the screen in just 2-3 seconds after you tap on it.

Now by using your MMID, you can easily make fund transfers without sharing your Bank account number & IFSC code.

Is it Mandatory to use MMID to fund transfers to any Bank?

Yes.
If you want to make a fund transfer to any Bank, the Beneficiary’s Mobile number and a valid MMID are Mandatory.

I Don’t have a Beneficiary MMID, Can I make a fund transfer through MMID?

No.
If the beneficiary has no valid MMID or MMID is unavailable, then, the beneficiary needs to get the MMID first.

Frequently Asked Questions

Hope you guys liked it..
Thanks for reading..!!!