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ATM withdrawal rule changes from today for PNB customers: All you need to know

Rule changed for withdrawing cash from ATMs from February 1 for Punjab National Bank customers.

twitter-logoBusinessToday.In | February 1, 2021 | Updated 16:14 IST
ATM withdrawal rule changes from today for PNB customers: All you need to know
Punjab National Bank had said it will be restricting ATM transactions, financial as well as non-financial, from non-EMV ATMs from February 1.

There will be a change in ATM withdrawal rule for customers of Punjab National Bank (PNB)from Monday. Customers' ATM transactions from non-EMV ATMs will be restricted from today.

Last month, the public sector bank had said it will be restricting ATM transactions, financial as well as non-financial, from non-EMV ATMs from February 1. In a tweet, the bank said it has taken this decision to protect customers from fraudulent ATM withdrawals and card cloning.

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"To protect our esteemed customers from fraudulent ATM activites, PNB will be restricting transactions (financial and non-financial) from Non-EMV ATM machines from 01.02.2021," the tweet said.

Non-EMV ATMs are those which do not hold the card during transaction and read data from magstrip, while EMV ATMS  hold card during transaction and read data from chip.

Despite the increase in digital transactions, fraudulent withdrawal and card cloning complaints are on the rise in the country. The banks are taking various steps to check and prevent such frauds and PNB's decision is also a step in that direction.

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