There is good news for SBI customers. The bank has now changed the rule of cash withdrawal from ATM. Now you have to give a special number to withdraw cash from SBI ATM. If you do not enter this number then your cash will get stuck. Actually, the bank has taken this step to make ATM transactions more secure. Let us know about this rule.

According to the information given by the bank, under this new rule, the customer cannot withdraw cash without OTP. In this, at the time of cash withdrawal, customers get an OTP on their mobile phones, which is entered only after cash is withdrawn from the ATM.

Bank has given information

The bank has already informed about this rule. The bank said, ‘Our OTP based cash withdrawal system for transactions at SBI ATMs is an immunization against fraudsters. Protecting you from fraud will always be our top priority. SBI customers should be aware of how the OTP based cash withdrawal system will work.

Know what is the rule?

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

Know the complete process here

For this you will need an OTP, without which you will not be able to withdraw up cash.
– An OTP will be sent to your registered mobile number.
– This OTP will be a four digit number which the customer will get for a single transaction.
– Once you enter the amount you want to withdraw, you will be asked to enter the OTP on the ATM screen.
– You will have to enter the OTP received on the mobile number registered with the bank in this screen for cash withdrawal.

Why did the bank take this step?

Why the need for OTP based cash withdrawal? On the question, 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 ATM/CDM with 71,705 BC outlets in India. The number of customers using internet banking and mobile banking are around 9.1 crore and 2 crore respectively.

The post SBI ATM Rule: Big news for SBI customers, change in ATM cash transaction rules again, know otherwise money will get stuck first appeared on Rightsofemployees.com.

Now you will need a special number to withdraw cash from SBI ATM. If you do not enter this number, you will not be able to withdraw money. Let’s know.

The bank informed that now OTP will be required to withdraw money from ATM. If you do not have OTP then you will not be able to withdraw money. This OTP will come on the mobile number registered with your bank.

Is this the new rule?

The bank has implemented this new rule to avoid fraud. In this, when you withdraw more than Rs 10000 from an ATM, you will have to enter an OTP sent to the mobile number registered with the bank account.

Here is the whole process

Every time you will need OTP to withdraw cash above 10000 thousand, without this you will not be able to withdraw money.

This OTP will be a 4-digit number, which will be used only once for withdrawing money.

In this, you will enter your ATM PIN and after that you will enter the amount. Now when you proceed, you will be asked to enter OTP.

Now when you enter the OTP, your cash will come out.

That’s why the bank took this step

The bank has taken this step to prevent fraud. SBI has the largest network of 22,224 branches and 63,906 ATMs/CDMs in India with 71,705 BC outlets. At the same time, the number of customers using internet banking and mobile banking service is around 91 million and 20 million.

The post ATM Cash Withdrawal Rule Change: Big News! SBI Bank changes the rules for withdrawing cash from ATMs, check new guideline here first appeared on Rightsofemployees.com.