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The rules for withdrawing cash from ATMs will change from September 18. Know what you’ve got to try to to to withdraw money now?
Cases of ATM fraud are on the increase during the lockdown. Following this, the country’s largest bank – depository financial institution of India (SBI) has decided to implement 24×7 just one occasion password i.e. OTP based ATM cash withdrawal facility. the power are going to be available at SBI ATMs across the country from September 18.
OTP are going to be required to withdraw money even during the day
Now OTP are going to be required even during the day to withdraw quite Rs 10,000 from SBI ATM. Until now, OTP was required just for withdrawals of Rs 10,000 or more from 8 pm to eight am. The bank had implemented the new rule from January 1. Under this, OTP based cash withdrawal are going to be applied from 8 pm to eight am on withdrawals of Rs 10,000 or more.
How can money be withdrawn now?
Now from Friday, September 18, if you attend an ATM to withdraw Rs 10,000 or more, you’ll be sent an OTP from the bank to a registered mobile after entering the cardboard and amount. you’ll be ready to withdraw money from the ATM once you need to enter this OTP with the open-end credit PIN.
CS Setti, MD (Retail and Digital Banking), SBI, said that SBI is already at the forefront in terms of technical improvements and safety. I hope the 24×7 OTP based cache withdrawal feature strengthens the safety level. Implementing this facility throughout the day will help SBI debit cardholders to avoid risks like fraud, card skimming, card cloning.
More than 22,000 branches across the country