SBI ATM cash withdrawal rules; State Bank of India (SBI) is extending one-time password (OTP)-based cash withdrawal for ₹10,000 and above throughout the day across all its ATMs in the country. This will be effective from today (September 18). So, the next time, you are heading towards an SBI ATM for withdrawing ₹10,000 or more, do remember to carry your mobile with you. As you will have to enter the OTP sent by the bank on your registered mobile number. If you fail to do so, the transaction will get canceled. At present, this extra level of security is available for transactions at SBI ATMs between 8 pm and 8 am.
“Your transactions at SBI ATMs are now more secure than ever. SBI extends OTP based cash withdrawal facility to 24×7 for amount ₹10,000 and above from 18.09.2020,” the country’s top lender tweeted.
“With the introduction of a 24×7 OTP-based cash withdrawal facility which is SBI ATM cash withdrawal rules, SBI has further strengthened the security level in ATM cash withdrawals. Implementing this facility throughout the day would prevent SBI debit cardholders from the risk of falling prey to fraudsters, unauthorized withdrawals, card skimming, card cloning, and the likes,” SBI said in a statement.
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Follow these steps to withdraw cash:
- In order to withdraw cash at SBI ATMs, you will need an OTP
- OTP will be sent to your registered mobile number.
- OTP is a system-generated numeric string of characters that authenticates the user for a single transaction.
- Once you enter the amount that you wish to withdraw, the ATM screen will display the OTP screen.
- Now, you will have to enter the OTP received on your mobile number registered with the bank on this screen for getting the cash.
- This additional factor of authentication will protect State Bank cardholders from unauthorized ATM cash withdrawals.
- The OTP-based cash withdrawal facility is available only at SBI ATMs as this functionality has not been developed at non-SBI ATMs in National Financial Switch (NFS), the bank said.
Worth mentioning here is that SBI recently also introduced a new facility keeping in view the rising incidents of ATM-related frauds. Under this new facility, every time an SBI customer visits an ATM and checks balance or mini statement, SBI will alert him by sending an SMS so that the customer becomes alert and can block his debit card if the transaction is not initiated by him.
Mean-while, India’s coronavirus count crossed 52 lakh-mark on Friday with more than 96,000 new cases being reported in the last 24 hours. The total death toll stood at 84,372. The health ministry has said that 60% of India’s case active coronavirus cases are concentrated across five worst-hit states — Maharashtra, Tamil Nadu, Karnataka, Delhi, and Andhra Pradesh — while 13 states and Union Territories have less than 5,000 active cases.
Coronavirus infections topped 30 million around the globe on Thursday as the World Health Organization warned of “alarming rates of transmission” across Europe and cautioned against shortening quarantine periods.
