Alert! SBI releases new rules for ATM cash withdrawal amid COVID pandemic

The State Bank of India (SBI) has released new rules for cash withdrawal from its ATM. Amid soaring COVID-19 cases in India, SBI is extending one-time password (OTP)-based cash withdrawal for Rs 10,000 and above across the country.

The new changes will be implemented from today (September 18). After this announcement, people are going to ATM to withdraw amount Rs 10,000 or more, then don’t forget to carry mobile. Because an OTP will be sent on your registered mobile number that one has to enter while transaction. If any fails to enter the OTP, the transaction will get cancelled.

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"Your transactions at SBI ATMs are now more secure than ever. SBI extends OTP based cash withdrawal facility to 24x7 for amount ₹10,000 and above from 18.09.2020," country's topl lender tweeted.

SBI also said in a statement, “With the introduction of 24x7 OTP-based cash withdrawal facility, SBI has further strengthened the security level in ATM cash withdrawals. Implementing this facility throughout the day would prevent SBI debit cardholders from the risk of falling prey to fraudsters, unauthorized withdrawals, card skimming, card cloning and the likes.”

This new rule would prevent the SBI debit cardholders from the risk of falling prey to fraudster, card cloning, card skimming, unauthorized withdrawal. SBI has also urged its customers to registered or update their mobile numbers if they have not yet done so.

In the wake of ATM frauds, SBI had recently launched a new facility for debit card users. The bank had also alerted its customers to be cautious and not to ignore SMS regarding balance enquiry or other things related to their account which is not initiated by them.

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