SBI ATM cash withdrawal facility rules changing from September 18. State Bank of India, the country’s largest government bank, has changed the rules for withdrawing cash from ATMs. The bank has made OTM mandatory for withdrawals of more than Rs 10,000 from 18 September 2020, extending the scope of the One-Time Password Based Cash Withdrawal service. According to the information given by the State Bank, now all SBI ATMs across the country will have the facility of OTP based cash withdrawal. Without OTP, now customers will not be able to withdraw more than 10 thousand. The new rule will be applicable to all account holders from 18 September.
The new SBI rule will be applicable from September 18 :
State Bank of India (SBI) has said that from September 18, 24 hours OTP based cash Withdrawal Facility will be available at all ATMs across the country. The bank has taken this step to make cash withdrawal facility from SBI ATM more secure. This new facility will now be available from 8 am to 8 pm at SBI ATMs across the country from 18 September. The bank has said that the bank has introduced this facility to protect the account holders from fraud.
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After the new facility of cash bank, now you have to intercept the one time password (OTP) on your registered mobile number at the ATM on withdrawal of 10 thousand or more from SBI ATM at any time in 24 hours. The bank has asked all its account holders to get their registered mobile number updated in their bank. The bank has said that this system has been adopted to further strengthen the security system of ATMs as well as to make customers’ deposits more secure.
OTP compulsory on withdrawals of Rs 10,000 or more :
The bank will now make OTP mandatory for withdrawing Rs 10,000 or more from ATMs to make cash withdrawal from SBI debit or ATM card more secure. The bank has now implemented this service even now in the day. Now, not only at night but also during the day, you have to intercept OTP if you withdraw 10 thousand or more cash from SBI ATM. Let me tell you that till now this facility was available only from 8 am to 8 am, but now it has been implemented for the day.