Business Desk: In view of the increasing number of ATM frauds across the country, the country’s largest government bank SBI has changed the rules for withdrawing money from ATMs. From now on customers will need OTP to withdraw money, ie you will not be able to withdraw money without OTP.
Under this facility of the bank, customers will not be able to withdraw money from 8 am to 8 am without OTP. Apart from this, in the day you will be able to withdraw money as before. Explain that the bank started this facility for its customers from January 1, 2020.
When will
you need OTP If you withdraw cash of ten thousand rupees or more, then you will need OTP. Without OTP you will not be able to withdraw 10 thousand or more.
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This facility will be available at SBI ATM only, the
bank told the customers that this facility will be available only at SBI ATM. At the same time, if you are an SBI customer, but withdraw money from another bank’s ATM, then you will not get the benefit of this facility. Because this feature has not been developed in National Financial Switch i.e. NFS. NFS is the largest intertopable ATM network in the country.
The bank had tweeted the
tweet by the State Bank of India and told customers about it. According to the bank, ‘OTP based cash withdrawal system has been implemented from 1 January 2020. If you withdraw cash from this ATM from 8 AM to 8 AM at night, you can avoid potential fraud under this facility.
How to get the benefit of this facility, the
customer will have to enter the OTP along with the PIN number to withdraw money. It will come on the registered mobile number of the OTP subscriber. The bank started this special facility keeping in mind the security of customers’ money. So that SBI debit card holders are protected from any possible skimming or card cloning. In this way, they will be able to escape from fraud.
