18 C
Monday, April 19, 2021

    SBI’s OTP-Based ATM Cash Withdrawal From Jan 1. Deets Inside

    The SBI has urged its customers to register or update their mobile numbers to receive the OTP

    The State Bank of India (SBI) will be introducing one-time password (OTP)-based cash withdrawal system at all its ATMs from January 1st, 2020.

    The SBI’s new OTP-based cash withdrawal system will be applicable for transactions above ₹10,000 between 8 pm and 8 am. Remember, you will receive OTP on your registered mobile number only when you withdraw cash over and above Rs 10,000.

    “Introducing the OTP-based cash withdrawal system to help protect you from unauthorized transactions at ATMs. This new safeguard system will be applicable from 1st Jan, 2020 across all SBI ATMs,” SBI tweeted.

    Here is how to withdraw cash at SBI ATMs through OTP-based system

    • An OTP will be sent to your registered mobile number at the time of initiating the cash withdrawal process at the ATM.
    • The OTP is a numeric string of characters that authenticates the user for a single transaction.
    • Once you enter the amount that you wish to withdraw, the ATM screen will display the OTP screen.
    • Enter the OTP received on your mobile number registered with the bank in this screen for withdrawing the cash.

    “This additional factor of authentication will protect State Bank cardholders from unauthorized ATM cash withdrawals,” SBI stated.

    The SBI has urged its customers to register or update their mobile numbers to receive the OTP and are able to withdraw cash hassle-free

    Photo credit: zeebiz.com



    Comments are closed.

    Follow TIME8.IN on TWITTER, INSTAGRAM, FACEBOOK and on YOUTUBE to stay in the know with what’s happening in the world around you – in real time

    First published


    Section 144 clamped in Shillong; Shops and Markets to remain close on Sundays

    After Assam, the East Khasi Hills district in Meghalaya has imposed some restrictions amid the COVID 19 scare in the state

    ‘Bohag Bihu’ 2021: April 15 declared as closed holiday for Central Govt Employees in Assam

    Central Government Employees Welfare Coordination Committee held a meeting earlier on December 9, 2020, and decided to remove ‘Bohag Bihu’ from the list of holidays for the year 2021

    Assam MP’s nephew passes away; suicide suspected

    Kaushik Oja, also the nephew of Guwahati Lok Sabha MP Queen Oja, allegedly died by suicide in the wee hours of Thursday.

    No ‘Bohag Bihu’ holiday for Central Govt employees: Assam Witnesses Protest

    Central government offices in Assam will not get Bohag Bihu holidays this year and will have to apply for a restricted holiday during the Assamese New Year festival

    Covid19 Scare: Assam Govt yet to decide on holding Board exams

    The total active COVID-19 cases in Assam now stand to 3,200 with 1,122 death cases

    Meghalaya Govt prohibits smoking and spitting in public places; Fine upto Rs 1000

    The decision was taken as per the provisions of sections 51-60 of the Disaster Management Act 2005 and section 188 of the Indian Penal Code

    97 fresh COVID-19 positive cases traced in Meghalaya, Active rises to 457

    East Khasi Hills is the worst affected district with 360 active cases