SBI Change ATM Withdraw Process: State Bank of India has now changed the method of withdrawing cash from ATM. Now SBI has started OTP service to withdraw cash from ATM.
The bank has made this big change to protect its customers from fraud. Soon this rule will also be seen applicable on SBI ATMs. This rule will act as an additional safeguard against unauthorized transactions.
According to the bank, while withdrawing cash from the ATM, the bank customers will have to share the OTP while completing the transaction, to ensure that the ATM user is the correct user. OTP is a system generated four digit number which will be sent by the bank to the registered mobile number of the customer. This OTP will authenticate the cash withdrawal and will be valid for one transaction only.
OTP cash withdrawal started from Jan 1, 2020
The country’s largest lender SBI had launched OTP based cash withdrawal services from January 1, 2020. SBI has been spreading awareness about ATM frauds through social media and other platforms from time to time. The company is appealing to all its customers to avail this service.
OTP will be required for transactions of Rs 10,000 or more.
Now this service will come in handy for SBI customers while withdrawing cash from ATMs. SBI has made these rules in view of increasing fraud, cybercrime. Let us tell you that customers withdrawing Rs 10,000 or more in a single transaction from SBI ATMs will need OTP to complete the transaction.
Withdraw cash using OTP
You must have your debit card and mobile phone with you while withdrawing cash from SBI ATM. OTP will come. Enter the OTP received on your phone on the ATM screen.
Read the Latest India News Today on The Eastern Herald.
