If you are also an SBI account holder then this is for you. Actually a latest update has come from SBI Bank for its customers. Under which information has been given on changing the methods of withdrawing cash from ATM.
As the world of internet is getting stronger, similarly hacking i.e. cyber criminals are also committing big frauds day by day. Fraud has increased in the world of banking as well.
People are being robbed in the name of the bank. Also, if someone’s card is lost, the thief thinks about its misuse. In such a situation, the bank has brought a new method to withdraw money from ATM to avoid any untoward incident.
SBI has taken out a rule. In this, now the person who has gone to withdraw money from the ATM, an OTP will come on his number, which will be inserted first in the ATM, only after which the cash will be withdrawn.
What does the New Testament say?
- As per the new rule, customers cannot withdraw cash from ATMs without OTP. Customers will get an OTP on the registered mobile number at the time of cash withdrawal. Can withdraw cash only after entering OTP.
- SBI said, ‘Our OTP-based cash withdrawal system for transactions at SBI ATMs is an immunization against fraudsters. Protecting you from fraud will always be our top priority. SBI customers should know how the OTP based cash withdrawal system will work.
- According to the bank, the new rule is applicable only for withdrawals of Rs 10,000 and above. Customers need to enter OTP along with Debit Card PIN while making withdrawals.
This is the complete process-
- OTP will be a four digit number which the customer will get for a single transaction.
- Once you enter the amount you want to withdraw, you will be asked to enter the OTP on the ATM screen.
- You will have to enter the OTP received on the registered mobile number in the bank.
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