SBI new rules for ATM withdrawal, you need OTP to withdraw cash

New Delhi.
SBI ATM Withdrawal New Rules: If you are also a customer of State Bank of India (SBI Customers), then this news is important for you. The bank is going to change the rules of ATM transactions from 18 September. According to the new rules, now Mobile OTP will be required for Cash Withdrawal With OTP. That is, now you will not be able to withdraw money from the ATM without OTP. SBI has decided to implement the 24 × 7 One Time Password (OTP) based ATM withdrawal facility with a view to reducing unauthorized transactions occurring in ATMs, which will be applicable from 18 September.

OTP is required for cash withdrawal, let us tell you that earlier the bank had made OTP required for cash withdrawal from 8 am to 8 am, but now it is being made necessary during the day. As per the new rules, SBI customers will now have to enter the OTP sent to the registered mobile number along with the PIN for an amount of Rs 10,000 or more from the ATM. The bank says that the facility of 24 × 7 OTP based cash withdrawal will further strengthen the level of security. According to the bank, by implementing this facility throughout the day, SBI debit card holders will avoid falling prey to fraud, unauthenticated withdrawal, card skimming, card cloning etc.

How will the cash come out?
After the implementation of this facility, customers will have to withdraw money through OTP. However, OTP based withdrawal facility will not be applicable for cash withdrawal from SBI card from other bank ATMs. Under the OTP based process, when the cardholder enters the withdrawal amount to the SBI ATM, then the OTP screen will appear on the ATM screen. In this, the customer has to enter the OTP on his registered mobile number.

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