New Rules Of Cash Withdrawal From SBI ATM, Check Details Here

Bhubaneswar: There has been a major change in the cash withdrawal rules of State Bank Of India (SBI). The bank has incorporated a few new rules which have to be followed in order to draw cash from the ATMs.

After the change in the rules, none of the SBI customer will be able to withdraw money from the ATMs without taking the registered mobile number. This step shall prevent fraud say the bank authorities. 

In order to reduce unauthorized transactions from ATMs, SBI has decided to implement withdrawal facility with a One Time Password (OTP) based ATM round the clock. 

Steps For Cash Withdrawal From SBI ATMs:

Now for the amount of Rs 10,000 or more, SBI debit card holders will have to enter the OTP sent to the registered mobile number along with their debit card PIN.

Now for the amount of Rs 10,000 or more, SBI debit card holders will have to enter the OTP sent to the registered mobile number along with their debit card PIN.

A statement issued by the bank said that with the introduction of round-the-clock OTP based cash withdrawal facility, SBI has further strengthened its security level in ATM cash transactions.

Almost 6 Crore People Will Benefit Out Of This New Security Feature: 

According to the bank, by implementing this facility throughout the day, SBI debit card holders will avoid falling prey to fraud, unauthorized withdrawals, card skimming, card cloning etc. 

SBI, the country’s largest public sector bank, has around 22,000 branches across India and the ATM / CDM network figure is more than 58,500.

About 6.6 crore customers of SBI use internet banking. At the same time, 1.5 crore customers use mobile banking. SBI’s deposit base was more than Rs 30 lakh crore as on 30 September 2019.

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