Big news for State Bank of India (SBI) customers. Banks have again changed the rules for withdrawing money from ATMs. SBI has taken some important steps to make ATM withdrawals safer. This will make the customer's financial transactions more secure.
What is the New rule?SBI customers will now have to enter OTP to withdraw money from SBI ATMs. An OTP will come on the mobile of the customer registered in their SBI ATM, who will be able to withdraw the money only after inserting it in the ATM machine.
What is the new method?It is very important to have your mobile with you when you go to withdraw money from ATM. To withdraw money from ATMs in normal way, you have to do the same process as before and after entering the PIN you will be asked for OTP, which will come on your mobile. Put that PIN on the ATM machine and then you will get the amount you have entered.
The new rules are more secureFrom all the current ATMs, all you have to do is insert the card into the ATM machine and then you can withdraw money by inserting the card PIN. However, SBI has set another level of security in the form of OTP. So that no stranger can withdraw money from your card. Because OTP will only come on your mobile.
This feature will only work on SBI's ATMsIntroduced by SBI to secure customer financial transactions, this feature will only work on SBI's ATMs. If you have SBI Card and you are withdrawing money from SBI ATM then this OTP process will be required. You will not need OTP when withdrawing money from another bank's ATM.