Frequently Asked Questions about YONO (2024)

FAQs

Frequently Asked Questions about YONO? ›

Your payment details are secured by advanced encryption, and additional OTP/permissions apply for high-value transactions. These security mechanisms ensure seamless and risk-free payments so that you never have to worry when transferring money. Your accounts and transactions remain fully protected.

Your payment details are secured by advanced encryption, and additional OTP/permissions apply for high-value transactions. These security mechanisms ensure seamless and risk-free payments so that you never have to worry when transferring money. Your accounts and transactions remain fully protected.

The YONO user simply needs to login to the YONO platform and use the YONO Cash feature to generate a reference number and create a dynamic PIN for the cash withdrawal. Customer can then use the same to complete the transaction and withdraw/obtain the cash from any of the channels i.e. ATM, POS terminal or CSP.

If you do not have Internet Banking credentials, you must register for SBI Mobile Banking using the ATM card and the registered mobile number.

The features I like the most are: - Easy fund transfers between accounts - Real-time account updates - Ability to pay bills and taxes online - Customizable dashboard for easy access to frequently used features. Everything is working fine and the new UI made it better.

20,000/- per account, per day can be withdrawn from ATM. Minimum Rs. 500 and multiple of Rs. 500 are allowed to be withdrawn.

Quick Transfer Transaction limit: Rs. 50,000/- per transaction and Rs. 50,000/- per day. No Service charges are levied for Quick transfer service through Yono Lite application.

There is no minimum balance requirement and no upper limit for the maximum balance. Although the account does not provide a chequebook facility, withdrawals can be made through a branch or ATM visit. Customers have the option to apply for a free RuPay Basic Debit Card that is free of annual maintenance fees.

What happened to YONO? ›

“Due to Annual Closing activity, the services of Internet Banking, Yono Lite, Yono. Business Web & Mobile App, YONO, and UPI will not be available between 12:20 Hrs IST and 15:20 Hrs IST on 1st April 2024. During this period, services of UPI Lite and ATM will be available,” SBI mentioned on its site.

SBI down on April 1: State Bank of India (SBI) has announced that the services of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO, and UPI would be unavailable on April 1, 2024 due to Annual Closing.

Development and Launch

Yono emerged from SBI's initial plan to make an "online marketplace" to attract millennials. The initiative was named "Project Lotus". It was nurtured for initial four years by Rajnish Kumar as an MD and then as the Chairman of bank. The app was launched in November 2017.

Yes, A user must have SBI bank account number to use YONO Web/App. A user can login using ATM card details as well, He needs to keep his registered mobile number with him as OTP would be sent on that number.

Sbi Yono and Sbi net banking are both digital product of the bank. Customer can use same credintials(user id and login passward) to avail the facility. Both can be used to remit the money to beneficery account. We can do various transaction like neft, Imps, transfer, Fd, Rd, etc.

A banking transaction through a commercial bank is safer than Google pay. Is Yono by SBI safe or not? The YONO app is a very robust and safe mobile app. It is so safe that even registered users can't log in, so there is absolutely no chance of fraud or loss.

Since its launch in 2017, YONO, the digital face of the bank, has emerged as one of the most trusted mobile banking apps in the country with over 60 million registered users. SBI witnessed 64% of new savings accounts opened through the integrated digital and lifestyle platform YONO in FY23.

SBI YONO Runs on app and can be used on any mobile device which support the yono app. Where as SBI net banking runs on website. You can withdrow cash through the help of Yono without card, Where as you cannot withdraw cash from Net banking. You can invest in mutual fund and insurance where as you cannot with the other.

There is no minimum balance requirement and no upper limit for the maximum balance. Although the account does not provide a chequebook facility, withdrawals can be made through a branch or ATM visit. Customers have the option to apply for a free RuPay Basic Debit Card that is free of annual maintenance fees.