The bank has modified the regulations for withdrawing cash from ATMs in order to safeguard consumers from fraud that occurs when they do so. To withdraw cash, users must first get an OTP on their mobile phone, which must be entered before cash can be withdrawn from the ATM.
Withdrawal Rules at SBI ATMs Have Been Modified: SBI consumers should be aware of some key information. Customers have access to a specific service that protects them from ATM fraud. The rules for withdrawing cash from SBI ATMs have changed. SBI has taken this step to improve the security of ATM transactions. To withdraw cash from an SBI ATM, you must now input your OTP. If you wish to avoid ATM fraud as well, you should take use of the bank’s particular service.
Customers who do not have an OTP will not be able to withdraw cash under this new restriction. Customers receive an OTP on their mobile phone while withdrawing cash, which they must enter before the cash is withdrawn from the ATM.
The bank provided information.
Our OTP-based cash withdrawal mechanism for transactions at SBI ATMs is also a vaccine against fraudsters, according to the bank. Our first aim will always be to keep you safe from fraud. Customers of SBI must understand how the OTP-based cash withdrawal mechanism will operate.
Do you know what the rule is?
Let us remind you that these rules apply to withdrawals of $10,000 or more. With an OTP received from their bank account to the registered mobile number and their Debit Card PIN, SBI clients can withdraw Rs 10,000 or more from their ATM at any time. Please explain the entire procedure to us.
Here’s how it works.
To withdraw money from an SBI ATM, you’ll need an OTP.
An OTP will be issued to your registered mobile number for this purpose.
This OTP will be a four-digit number that will be provided to the customer for a single transaction.
You’ll be asked to enter OTP on the ATM screen once you’ve input the amount you want to withdraw.
For cash withdrawal, you must input the OTP received on the bank’s registered mobile number at this screen.
The bank explained why it was required.
The bank has taken this measure in order to safeguard its customers against fraud. SBI, India’s largest public sector bank, has the country’s greatest network of 22,224 branches, 63,906 ATM/CDMs, and 71,705 BC outlets. Customers that use internet banking and mobile banking respectively number 91 million and 20 million.
