Sunday, November 27, 2022

SBI ATM Rule: Important news for SBI customers, change in ATM cash transaction rules again

SBI ATM Withdrawal Rule Changed:  There is good news for SBI customers. The bank has now changed the rule of withdrawing money from ATMs. Now you have to give a special number to withdraw money from SBI ATM Rule. If you do not enter this number then your cash will get stuck. Actually, the bank made this move to increase the security of ATM transactions. Let’s discuss this rule.

The customer is not permitted to withdraw cash without OTP under this new regulation, according to information provided by the bank. In this, at the time of cash withdrawal, customers receive an OTP on their mobile phones, which is entered only after withdrawing cash from the ATM.

Bank has given information

The bank has already informed us about this rule. The bank said, ‘Our OTP-based cash withdrawal system for transactions at SBI ATMs is an immunization against fraudsters. Our top priority will always be to protect you from fraud. Customers of SBI must be familiar with the operation of the OTP-based cash withdrawal system.

Know what is the rule?

Let us tell you that the bank has implemented a new rule on withdrawals of Rs 10,000 and above to protect customers from fraud. Under this, SBI allows customers to withdraw Rs 10,000 and above from their ATMs every time they use their bank account with an OTP sent to their registered mobile number and their debit card PIN. Let’s know its complete process.

Know the complete process here

Without an OTP, you will not be able to do this and withdraw money.
– To the mobile number you have on file, an OTP will be issued.
This OTP will be a four-digit number that the customer will get for a single transaction.
– The ATM screen will prompt you to enter the OTP after you have entered the desired withdrawal amount.
– For cash withdrawal, you need to enter the OTP received on the mobile number registered with the bank in this screen.

Why did the bank take this step?

Why OTP based cash withdrawal is required? On this question, the bank said, ‘This step has been taken so that customers can be saved from fraud.’ Actually, SBI is the largest public sector bank in the country. With 22,224 branches, 63,906 ATM/CDMs, and 71,705 BC outlets, it has India’s largest branch network. The number of customers using internet banking and mobile banking is around 91 million and 20 million respectively.

Read More: If you use an ATM card, you will receive 5 lakh rupees for free. How does this work?

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