State Bank of India, the country's largest bank, has introduced new rules for its customers. SBI has changed the rules for ATM withdrawals. This new rule has been implemented to make cash transactions more secure. Mention of OTP has been made mandatory for withdrawals from ATMs.
SBI customers will have to mention OTP to withdraw money from ATMs. It is not possible to withdraw money from an ATM without OTP. This step has been taken to curb cyber crime.
State Bank of India tweeted about the new rules. The bank said that using OTP is a step against cyber crime.
"Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority," SBI said.
If a customer wants to withdraw more than Rs 10,000 from an ATM, an OTP will be sent to their registered mobile number. After that OTP and PIN number will have to be mentioned. After that the customer will be able to withdraw money from the ATM.
>> Method of withdrawing new money from SBI's ATM
> To withdraw money from SBI's ATM, first insert the ATM card into the machine.
> Click on OTP option.
> OTP number will appear on your Registered Mobile. Make a note of it
> Then specify the ATM PIN number
> After specifying the OTP and PIN number, you can withdraw the amount