SBI ATM Withdrawal Rules: OTP Will Save You From ATM Fraud, Know The Complete Process Of The Transaction
SBI, the country's largest public sector bank, has made strict security arrangements regarding withdrawals from its ATMs.
There has been a huge jump in digital fraud and ATM fraud (SBI ATM fraud) during the Corona period. In such a situation, continuous steps are being taken by the banks to give the customers a safe transaction experience. SBI, the country's largest public sector bank, has made strict security arrangements regarding withdrawals from its ATMs. OTP facility has been given so that there is no fraud in the transaction from ATM. This is an extra layer of security. State Bank launched the OTP-based ATM cash withdrawal facility on 1 January 2020.
He is also constantly making his customers aware of this facility. If you are a State Bank customer and withdraw more than 10 thousand cash from SBI ATM, then OTP will be required. The OTP-based transaction is applicable only for doing SBI cards through SBI ATM. OTP will not be required if you transact at SBI ATM with another card. Apart from this, OTP will not be required even if you do transactions from any other bank's ATM with an SBI ATM card.
How will the OTP service work?
Keep your SBI Debit Card and Registered Mobile Number with you and visit any SBI ATM.
Initiate the withdrawal process at the ATM and it will start with entering the password. Enter the amount you want to withdraw. If you make more than 10 thousand withdrawals, you will be asked for OTP which has been sent to your registered mobile number. OTP is a four-digit number that you receive in the message.
After entering the OTP, your transaction will be completed and you can receive the amount entered in the input. Rules will run only in SBI ATMs
This rule is only for those with SBI ATM or Debit cards. If you have a card from another bank and are withdrawing money from SBI ATM then OTP will not be required.
If you are a cardholder of SBI but are withdrawing money from an ATM of another bank, then you will not be able to take advantage of the OTP facility. There should be an ATM of SBI along with an SBI card. In this situation, OTP-based ATM transactions will happen.
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