SBI ATM withdrawal rules changed: There is good news for SBI customers. The bank has now changed the rules for withdrawing money from ATMs. Now you have to give a special number to withdraw money from SBI ATM. If you do not enter this number your cash will be stuck. Actually, the bank has taken this step to make ATM transactions more secure. Let us know about 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this, an OTP comes on the mobile phone of the customers at the time of cash withdrawal, only after entering the cash is withdrawn from the ATM.

Bank gave information
About this rule, the bank has already provided information. Our OTP-based cash withdrawal mechanism for transactions at SBI ATMs is a vaccination against fraudsters, according to the bank. Our first aim will always be to protect you from fraud. SBI customers should be aware that OTP based cash withdrawal system How will it work?

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 with an OTP sent from their bank account to their registered mobile number and their debit card PIN. Let us know its complete process.

Know the whole process here
An OTP is required for this; else, you will not be able to withdraw cash.
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 one transaction.
The ATM screen will prompt you to input the OTP after you have entered the desired withdrawal amount.
You need to enter the OTP received on the mobile number registered with the bank on this screen for cash withdrawal.

Read More: SBI MCLR Hike: SBI gives a big blow to customers, increases loan interest rates; Quickly Checks Latest Rates.

Why did the bank take this step?
Why is OTP-based cash withdrawal required? On question of the bank, said, ‘This step has been taken so that the customers can be saved from fraud.’ Actually, SBI is the largest public sector bank in the country. It has the largest network of 22,224 branches and 63,906 ATMs/CDMs with 71,705 BC outlets in India. There are roughly 91 million and 20 million users that use online banking and mobile banking, respectively.

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