The rules for withdrawing cash from ATMs will change from September 18. Know what you have to do to withdraw money now?

The rules for withdrawing cash from ATMs will change from September 18. Know what you have to do to withdraw money now?

The rules for withdrawing cash from ATMs will change from September 18. Know what you have to do to withdraw money now?

Cases of ATM fraud are on the rise during the lockdown. Following this, the country's largest bank - State Bank of India (SBI) has decided to launch 24x7 one time password i.e. OTP based ATM cash withdrawal facility. The facility will be available at SBI ATMs across the country from September 18.

The rules for withdrawing cash from ATMs will change from September 18. Know what you have to do to withdraw money now?

OTP will also need to withdraw money during the day

 Now OTP will also be required during the day to withdraw more than Rs 10,000 from SBI ATMs. Until now, only OTP was required from 8 a.m. to 8 p.m. to withdraw Rs 10,000 or more. The bank has implemented the new rules from January 1. Under this, on withdrawals of Rs 10,000 or more, OTP based cash withdrawals will be applied from 8 pm to 8 am.


How to withdraw money now?

Now from Friday, September 18, if you go to an ATM to withdraw Rs 10,000 or more, you will be sent an OTP from the bank on a registered mobile after entering the card and the amount. You will be able to withdraw money from the ATM when you have to enter this OTP with debit card PIN.

ATMs will help prevent fraud

CS Setti, MD (Retail and Digital Banking), SBI, said that SBI is already at the forefront of technological improvements and security. I hope the 24x7 OTP based cache withdrawal feature strengthens the security level. Implementing this facility throughout the day will help SBI debit cardholders to avoid risks like fraud, card skimming, card cloning.

OTP will be required to withdraw money even during the day

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There are more than 22,000 branches across the country SBI, the country's largest bank, has more than 22,000 branches across the country. SBI is also present in more than 30 countries. Millions of customers use mobile banking and ATMs.