SBI Cash Withdrawal Rule: Rules have changed for withdrawing cash from ATM, know rules otherwise your money will get stuck
Now the rules for withdrawing cash from ATMs have changed. To withdraw cash, an OTP will be received on the mobile phone of the customers, only after entering the cash can be withdrawn from the ATM.
SBI ATM Withdrawl Rule Changed: There is news of work for bank customers. The rules for withdrawing cash from ATMs have changed. SBI has taken this step to make ATM transactions more secure. Now it is mandatory for you to enter OTP to withdraw cash from SBI ATM. Now under the new rule, the customer cannot withdraw cash without OTP. In this, at the time of cash withdrawal, customers get an OTP on their mobile phone, only after entering which the cash is withdrawn from the ATM.
The bank tweeted the information
The bank also tweeted and informed that our OTP based cash withdrawal system for transactions at SBI ATMs is a vaccination against fraudsters. Protecting you from fraud will always be our top priority. SBI customers must be aware of how the OTP based cash withdrawal system will work.
Know what is the rule?
Let us tell you that these rules are applicable on withdrawal of 10,000 and above. Allows SBI customers to withdraw Rs 10,000 and above from their ATM every time with an OTP sent from their bank account to the registered mobile number and their Debit Card PIN. Let us know its complete process.
Know the process here
- You will need an OTP to withdraw cash from SBI ATM.
- For this an OTP will be sent to your registered mobile number.
- This OTP will be a four digit number that the customer will get for a single transaction.
- Once you have entered the amount you want to withdraw, you will be asked to enter OTP on the ATM screen.
- You have to enter the OTP received on the mobile number registered with the bank in this screen for cash withdrawal.
The bank told why it was needed
This step has been taken by the bank so that the customers can be protected from fraud. The country’s largest public sector bank SBI has the largest network of 22,224 branches and 63,906 ATM/CDM with 71,705 BC outlets in India. The number of customers using internet banking and mobile banking is approximately 91 million and 20 million.