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Big News! Changed rules for withdrawing cash from ATM, here’s the new rule

SBI New Rule: Now the rules for withdrawing cash from ATMs have changed. To withdraw cash, an OTP will be received on the mobile phone of the customers, only after entering the cash can be withdrawn from the ATM.

SBI New Rule: There has been a change in the rules of cash withdrawal from ATMs. SBI has taken a new initiative to make ATM transactions more secure. Now you will need to enter OTP to withdraw cash from SBI ATM. In this new rule, customers will not be able to withdraw cash without OTP. At the time of cash withdrawal, customers will get an OTP on their mobile phone, only after entering which the cash can be withdrawn from the ATM.

The bank tweeted the information

The bank has given this information by tweeting. The tweet read, ‘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 be aware of how the OTP based cash withdrawal system will work.

Know what is the rule?

Let us tell you that these rules will be applicable on withdrawal of Rs 10,000 and above. SBI will allow customers to withdraw Rs 10,000 and above from their ATMs every time with an OTP sent from their bank account to their registered mobile number and their debit card PIN.

Know the process here

  • You will need an OTP to withdraw cash from SBI ATM.
  • For this an OTP will be sent to your registered mobile number.
  • This OTP will be a four digit number that the customer will get for a single transaction.
  • Once you have entered the amount you want to withdraw, you will be asked to enter the OTP on the ATM screen.
  • You have to enter the OTP received on the mobile number registered with the bank in this screen for cash withdrawal.

The bank told why it was needed

This step has been taken by the bank so that customers can be protected from fraud. The country’s largest public sector bank SBI has the largest network of 22,224 branches and 63,906 ATM/CDM with 71,705 BC outlets in India. The number of customers using Internet Banking and Mobile Banking is approximately 91 million and 20 million.



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