Here is an important alert for the country’s largest bank State Bank of India (SBI) customers. The State Bank of India (SBI) has introduced OTP-based cash withdrawal in order to prohibit unauthorized transactions from the ATMs.
Everyone must know about this development as they may face issues if they do not follow this.
The SBI on its Twitter handle said,” Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority.”
The SBI customers must be aware about how the OTP based cash withdrawal system will work. It will work in the following way:
- The SBI customers must note that an OTP will be sent to the registered mobile number and the customer can withdraw cash from the ATM by entering the OTP.
- The OTP is a four-digit number that authenticates the user for a single transaction.
- The SBI customers must note that this will protect the SBI card holders from unauthorised ATM cash withdrawals.
Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority.#SBI #StateBankOfIndia #ATM #OTP #SafeWithSBI #TransactSafely #SBIATM #Withdrawal pic.twitter.com/9EnJH883bx
— State Bank of India (@TheOfficialSBI) November 21, 2021
The SBI customers must note that this is applicable in case of withdrawals of Rs 10,000 and above from SBI ATMs. The facility is active since January last year.
SBI has been always been active and has notified its customers about the scams and how to avoid them. In case of any query and doubts related to SBI, the customers can login to the official website of SBI at sbi.co.in.