New Delhi: Scammers now use a variety of techniques to dupe consumers and steal money from their accounts. This problem gets even worse as more people still withdraw cash from ATMs today. To prevent fraud, SBI has now changed the rules for cash withdrawal from ATMs. Banks have issued a new rule to make ATM transactions more secure. Let’s take a look at the rule.
According to the new rule, customers cannot withdraw cash from ATMs without OTP. At the time of cash withdrawal, customers will get an OTP on the registered mobile number. Cash can be withdrawn only after entering the OTP.
SBI said, “Our OTP-based cash withdrawal system for transactions at SBI ATMs is a vaccination against fraudsters. Protecting you from fraud will always be our top priority. SBI customers should know how the OTP based cash withdrawal system will work.
According to the bank, the new rule is applicable only on withdrawals of Rs 10,000 and above. While making withdrawals, customers need to enter OTP along with Debit Card PIN.
understand step by step
OTP will be a four digit number that the customer will get for a single transaction.
Once you have entered the amount you wish 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.
