SBI customers must know this new rule; otherwise you will have to regret it!

The State Bank of India (SBI) has brought a major change which every customer should know otherwise they may regret later. The SBI has extended OTP-based cash withdrawal facility to all its ATMs from Friday to above 10,000. The OTP-based cash facility for withdrawals above 10,000 was applicable for 12 hours i.e between 8 am and 8 pm but now will be applicable 24 hours. The bank has taken this decision to protect customers from ATM fraud.

State Bank of India said on the expansion of this service ‘With the introduction of 24 × 7 OTP-based cash withdrawal facility, SBI has further strengthened the level of security during ATM cash transactions. By implementing this facility throughout the day, debit card holders will be protected from the risk of fraud, unauthorized withdrawals, card skimming, card cloning and the like.

Customers will also have to carry their mobile for this. At the same time, SBI has made the information of balance inquiry and statement request at the ATM more secure. Customers will get this security through SMS. Customers can use OTP for just one transaction. OTP based cash withdrawal facility is available only at SBI ATM.