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Thursday, September 17, 2020

SBI Bank ATM Related Important News - The rule of withdrawing cash from ATMs will change from September 18

SBI Bank ATM Related Important News - The rule of withdrawing cash from ATMs will change from September 18




One Time Password i.e. OTP based ATM cash withdrawal facility will be implemented from SBI ATM from 18th September. Breaking News, Jobs Updates, Technological T-G Tips and General Information Updates will be with us.

The bank has decided to implement OTP based ATM withdrawal facility from 24x7

This ATM cash withdrawal rule will be applicable across the country from September 18, 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 also be required to withdraw money during the day. Now OTP will also be required during the day to withdraw more than Rs 10,000 from SBI ATMs. Until now, OTP was only required from 8pm to 8pm to withdraw Rs 10,000 or more. The bank has implemented the new rules from January 1. Under this, on withdrawals of Rs 10,000 or more, OTP based cash withdrawals will be applicable from 8 pm to 8 am.







How to withdraw money now? Now on 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 on 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 Debit Card PIN.

Important news for SBI customers: ATM cash withdrawal rule will change from September 18, know what you have to do to withdraw money now?

ATM fraud will help curb SBI's MD (Retail and Digital Banking) CCS setting, he said, adding that SBI is already at the forefront of technological improvements and security. 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 scamming, card cloning.

More than 22,000 branches across the country SBI, the country's largest bank, has more than 22,000 branches across the country. SBI is also present in more than 30 countries. MillionBI Millions of customers use mobile banking and ATMs.



News Source Read in Gujarati


Once the customer enters the amount they want to withdraw, the ATM screen will ask for OTP where they have to enter the amount received on their registered mobile number. OTP based cash withdrawal facility is available only at SBI ATMs as this functionality has not been developed in National Financial Switch (NFS) on non-SBI ATMs.



CS Setti, MD (Retail and Digital Banking), SBI, said, “SBI has always been at the forefront of ensuring convenience and security to its customers through technological improvements and enhancement of security levels. With the capability of 24x7 OTP certified ATM withdrawals, we believe that SBI customers will have the experience of safe and risk free cash withdrawals. "

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