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State Bank of India, the country's largest public sector bank, has changed the rules for cash withdrawals from ATMs. If 10 thousand or more cash is withdrawn from an SBI ATM, the OTP will be sent to the registered mobile number and only after that the cash can be withdrawn. SBI has given this information by tweeting.
To protect consumers from ATM fraud, State Bank of India has launched a 24-hour OTP-based service across the country, the tweet said. The new rule is effective September 18. For information, this rule will only apply to SBI debit card holders.
The bank also told its customers that if you use an SBI card to withdraw money at an ATM, you need to carry a mobile with you. OTP will be sent to your registered mobile number. Only after OTP can 10 thousand or more cash be withdrawn.
If a customer does not have a registered mobile number, they will not be able to withdraw more than Rs 10,000 from their SBI debit card at ATMs. He should get his updated number registered soon.
State Bank had already implemented this rule. It has been in force for 24 hours since September 18. As per the current rule, the OTP procedure was applicable between 8 pm and 8 am. After entering the amount, the OTP screen opens and the registrar has to enter the OTP sent to the mobile number. The transaction can be done only after the completion of this process.
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