In case u r withdrawing more than Rs 10,000 from SBI ATM, please carry your mobile!
Posted on: 17/Sep/2020 12:32:59 PM
In a special Press Release dated 15th September, The State Bank of India (SBI) announced that it is extending its one-time password (OTP) based cash withdrawal facility for transactions above Rs 10,000 throughout the day across all its ATMs. The bank stated in a press release that this facility will be available from 18th September.
The press release from the State Bank of India states: “For withdrawing Rs 10,000 and above, SBI debit cardholders now have to enter OTP sent on their registered mobile numbers along with their debit card PIN each time."
The bank has also asked its customer to ensure that their correct mobile numbers are updated in the bank`s records to ensure smooth completion of transactions.
The process
The State Bank of India announced via press release dated September 15, 2020, that it is extending its one-time password (OTP) based cash withdrawal facility for transactions above Rs 10,000 throughout the day across all its ATMs. This will be available from September 18, 2020, the bank stated in a press release.
At present, this extra level of security is available for transactions at SBI ATMs between 8 PM and 8 AM.
Once a customer enters the amount they want to withdraw, the ATM screen will ask for the OTP which s/he would have received on her/his registered mobile number.
Remember, OTP-based cash one-time passwordfacility is available only at SBI ATMs. This functionality at non-SBI ATMs has not been developed in the National Financial Switch (NFS). Usually, withdrawal from another bank ATM is capped at Rs 10,000.
The bank said: “With the introduction of a 24x7 OTP-based cash withdrawal facility, 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".
Recently, the bank started a facility wherein whenever an SBI customer checks his/her bank account balance via an ATM, an SMS will be sent to the customer to inform him/her about such request.
