Important news for SBI BANK customers.
withdrawing cash from ATMs will change ruls from date 18 September 2020
Important news for SBI customers: The rule of withdrawing cash from ATMs will change from September 18, know what you have to do to withdraw money now ?
OTP based ATM Cash Withdrawal facility will be applicable from SBI ATM from 18th September 2020
The bank has decided to implement OTP based ATM withdrawal facility from 24x7
This rule of ATM Cash Withdrawal will be applicable across the country from 18th September 2020
Cases of ATM fraud are on the rise during the lockdown. Following this, the country's largest bank - State Bank of India (SBI) has decided to implement 24x7 one time password i.e. OTP based ATM cash withdrawal facility. The facility will be available at SBI ATMs across the country from September 18.OTP will be required to withdraw money even during the day
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Now OTP will be required even during the day to withdraw more than Rs 10,000 from SBI ATM. Until now, OTP was required only for withdrawals of Rs 10,000 or more from 8 pm to 8 am. The bank had implemented the new rule from 1st January. Under this, OTP based cash withdrawal will be applied from 8 pm to 8 am on withdrawals of Rs 10,000 or more.
How can money be withdrawn now ?
Now from Friday, September 18, if you go to an ATM to withdraw Rs 10,000 or more, you will be sent an OTP from the bank to a registered mobile after entering the card and amount. You will be able to withdraw money from the ATM when you have to enter this OTP with the debit card PIN.
ATM fraud will help prevent
MD (Retail and Digital Banking), SBI, said that SBI is already at the forefront in terms of technical improvements and safety. I hope the 24x7 OTP based cache withdrawal feature strengthens the security level. Implementing this facility throughout the day will help SBI debit cardholders to avoid risks like fraud, card skimming, card cloning.
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