sbi atm rule 2020
sbi atm rule 2020

SBI Customer Attention! Now no money will come out from ATM without OTP : pay attention! Withdraw money from SBI ATM now more safe, without OTP you will not be able to withdraw large amount. If you are a customer of State Bank of India, then there is important news for you.

If you are a customer of State Bank of India, then there is important news for you. The rules for withdrawing more than 10 thousand rupees from bank ATMs have changed since 18 September. SBI has decided to implement the One Time Password (OTP) based ATM withdrawal facility 24 × 7 with a view to reducing unauthorized transactions occurring in ATMs. This facility has been implemented at all SBI ATMs across the country.

Earlier, the bank had introduced OTP based cash withdrawal for 8 thousand rupees from 8 am to 8 am. This was done from 1 January. Now its facility has been expanded.

Will not be a victim of fraud

Now for the amount of 10,000 rupees or more, SBI debit card holders will have to enter the OTP sent to the registered mobile number along with their debit card PIN. With the introduction of 24 × 7 OTP based cash withdrawal, SBI has further strengthened its security level in ATM cash withdrawal. According to the bank, by implementing this facility throughout the day, SBI debit card holders will avoid falling prey to fraud, unauthenticated withdrawal, card skimming, card cloning etc.

How to get cache from OTP

The process of withdrawing cash from SBI ATM through this facility will not be much different from the existing process. OTP based withdrawal facility will not be applicable for cash withdrawal from SBI card from other bank ATMs. Under the OTP based process, when the cardholder enters the withdrawal amount to the SBI ATM, then the OTP screen will come on the ATM screen.

In this, the customer has to enter the OTP on his registered mobile number.

More than 58,500 ATM / CDM

SBI has around 22,000 branches across India and the ATM / CDM network figure is more than 58,500. 6.6 crore customers of SBI use internet banking, while 1.5 crore customers use mobile banking. As of 30 September 2019, SBI’s deposit base was more than Rs 30 lakh crore. Advances were about Rs 22.5 lakh crore.

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