SBI ATM money withdrawal guidelines: Key issues you have to know

SBI ATM money withdrawal guidelines: To keep away from fraudulent ATM transactions, the nation’s high lender State Bank of India (SBI) began a one-time password (OTP) primarily based money withdrawal facility at ATMs. To avail this facility, SBI clients want to hold their cell to the ATMs because the OTP to withdraw money is distributed on their cell quantity registered with the financial institution.

How does SBI OTP-based ATM money withdrawal facility work

SBI clients can use this facility to withdraw money quantity of Rs10,000 and above from its ATMs by getting into an OTP despatched on their registered cell quantity, together with their debit card PIN every time. This facility is lively since 1 January 2020.

On December 26, 2019, SBI had taken to Twitter to announce that this facility will likely be relevant from January 1, 2020, throughout all SBI ATMs. “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.”

Here’s how the OTP primarily based money withdrawal system works:

-In order to withdraw money at SBI ATMs, you will have an OTP

-An OTP will likely be despatched to your registered cell quantity.

-The OTP is a four-digit quantity that authenticates the consumer for a single transaction.

-Once you enter the quantity that you simply want to withdraw, the ATM display screen will show the OTP display screen.

-Now, you’ll have to enter the OTP acquired in your cell quantity registered with the financial institution on this display screen for getting the money.

SBI’s WhatsApp banking providers work

SBI has additionally launched its WhatsApp Banking service. You can test your account stability and mini assertion on the State Bank of India (SBI) by way of WhatsApp now.

For registering, the account holder ought to ship an SMS to 7208933148 with the textual content ‘WAREG’ and your account quantity with an area between them from their registered cell quantity. After finishing the registration course of, you’ll obtain a message from SBI’s quantity 90226 90226 in your WhatsApp quantity.

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