Understanding the SBI Mini Statement: Your Financial Snapshot at a Glance

INTRODUCTION

In today’s fast paced world due to the introduction of internet, the banking sector has evolved to meet the demands and serve the modern customers. The traditional banking practices have transformed making the financial transactions convenient, one example of such advancement is the introduction of SBI mini statement. SBI mini statement allows customers to access their recent account transactions quickly and easily using SBI mini statement number and many other methods which we will discuss in this article. But first let’s understand what exactly an SBI mini statement is.

SBI MINI STATEMENT

The SBI Mini Statement is a concise summary of a customer’s recent transactions. It provides an overview of the account’s last few transactions, allowing customers to review their financial activities without the need for a detailed account statement. This feature is particularly useful when you need to check your recent transactions on-the-go, without having to visit a branch or access internet banking. 

(Speaking of transactions if you need to transfer funds outside of India You can check our article on SBI RTGS charges. )

There are many methods to obtain SBI mini statement lets discuss them one by one.

SBI MINI STATEMENT NUMBER

SBI customers can get their mini statement via Missed Call Service. For this, you just need to give missed call at 09223866666. You can also use this number to get mini statement on WhatsApp, to do that just add this number to WhatsApp and send ‘Hi’ then select the required option from the ones received.

GET SBI MINI STATEMENT USING ATM

To obtain SBI mini statement using ATM, visit the nearest SBI ATM and insert your card, enter your PIN, from the list of options select ‘mini statement.’ This will provide the details of last 5-10 transactions.

GET SBI MINI STATEMENT USING SMS BANKING

 Ensure that your mobile number is registered with your SBI account.

• Compose an SMS in the following format: “MSTMT.”
• Send the SMS to the SBI Mini Statement number (designated by the bank).
• You will receive an SMS containing the last 5-10 transactions on your mobile.

SBI MINI STATEMENT USING SBI ANYWHERE APP

• Download and install the SBI Anywhere Personal app on your smartphone.
• Log in using your internet banking credentials or create a new account if you haven’t registered yet.
• Once logged in, find the “Mini Statement” option in the app’s menu.
• The app will display the last few transactions on the screen.

SBI MINI STATEMENT USING SBI INTERNET BANKING

•    Visit the SBI website and log in to your internet banking account.
• Navigate to the “Account Summary” section.
• Click on the “Mini Statement” option to view the recent transactions.
• Also, using SBI internet banking, you can also transfer funds to other accounts via NEFT, RTGS & IMPS. You will be required to pay SBI RTGS charges or NEFT/IMPS charges depending on the mode of transfer you opt for.

UNDERSTANDING THE SBI MINO STATEMENT FORMAT

When you obtain your SBI Mini Statement, you will see a concise yet informative summary of your recent transactions. The statement typically includes the following details for each transaction:

1. DATE AND TIME OF TRANSACTION: This section indicates the date of transaction and the exact time at which the transaction was initiated
2. DESCRIPTION OF TRANSACTION: This section gives a short description of the transaction, including whether the transaction was debit or credit, payee’s name or source of credit.
3. AMOUNT: The actual amount of money involved in the transaction.
4. TYPE OF TRANSACTION: Specifies whether the transaction is a credit (money received) or a debit (money spent) transaction.
5. REFERANCE NUMBER: This is a unique identifier for the transaction that can be used for reference in case of any discrepancies.
6. BALANCE: The remaining balance in your account after the transaction.

BENEFITS OF SBI MINI STAEMENT

The SBI Mini Statement gives several advantages to customers, making it a valuable feature in their banking experience:

1)No Need to go through full statement:If you are one of those people who do not  have the time to read full statement, the SBI mini statement is for you, it just shows the last 5-10 transactions.

2)Easy and Convenient: Getting your SBI mini statement is very convenient and hassle free process. All you need is a simple phone.

    3)Helps in tracking expenses: customers can keep track of their spending habits and budget effectively, by reviewing their recent transactions,

4)No extra cost: Obtaining your SBI mini statement through Call or SMS comes without any extra cost, which makes it a very cost effective method of staying updated with the transactions

DISADVANTAGES OF DBI MINI STATEMENT

While the SBI Mini Statement is a valuable tool for account holders, it does have some limitations:

1. Limited Transactions: The mini statement displays the last 5-10 transactions, which will not be sufficient for customers who require a more extensive transaction history.
2. No Account Balance Details: The mini statement provides transaction details but doesn’t include the account’s current balance. For the account balance, customers will need to check their account separately.
3. Requires Network: Accessing the mini statement through SMS or mobile app requires a stable internet or mobile network connection. In areas with poor connectivity, this might pose a challenge.

CONCLUSION

SBI Mini statement is a very valuable service of the State bank pf India. SBI mini statement saves the customers time by providing them with the recent and relevant transactions, saving a lot of time. You can obtain your SBI mini statement very conveniently from your phone. The mini statement helps in effective management of expenses and helps in budgeting. SBI mini statement can really help to take control of your finances.