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SBI ATM cash withdrawal: New rules apply from today; check out details

The extension was announced to give customers a wider window period allowing them to withdraw Rs 10,000 and above throughout the day across all SBI ATMs in the country

twitter-logoBusinessToday.In | September 18, 2020 | Updated 14:59 IST
SBI ATM cash withdrawal: New rules apply from today; check out details
The State Bank of India, starting September 18, is extending its OTP-based cash withdrawal service to 24x7

State Bank of India's (SBI) customers can now make ATM withdrawals of Rs 10,000 and above after OTP verification throughout the day.

India's biggest lender, starting September 18, is extending its OTP-based cash withdrawal service to 24x7. The extension was announced to give customers a wider window period allowing them to withdraw Rs 10,000 and above throughout the day across all SBI ATMs in the country.

The bank had, in January this year, allowed customers to use the facility from 8 p.m. to 8 a.m. To withdraw cash, SBI debit cardholders will now have to enter OTP sent on their registered mobile numbers along with their debit card's PIN number each time, the bank said.

Also Read: SBI changes ATM cash withdrawal rules; OTP-based facility extended round the clock

Hence, the next time you are headed to an SBI ATM to draw out Rs 10,000 or more, don't forget to carry your mobile with you. The transaction will get cancelled in case you forget to do so.

"Your transactions at SBI ATMs are now more secure than ever. SBI extends OTP based cash withdrawal facility to 24x7 for amount Rs 10,000 and above from 18.09.2020," the bank tweeted.

SBI also said in a statement that with this facility the bank has further strengthened the security level of ATM cash withdrawals. It added that with the implementation of the service throughout the day, the bank's debit cardholders will be protected from the risk of falling prey to fraudsters, unauthorised withdrawals, cark skimming, card cloning, etc.

Also Read: SBI customers can make payments without using pin or swiping card; here's how

Follow these steps to withdraw cash at SBI ATMs through an OTP-based system:-

You will need an OTP to withdraw cash at SBI ATMs.

OTP (one-time password) is a system-generated numeric series of characters that validates the user to carry out a single transaction.

The OTP will be sent to your registered mobile number.

Once you enter the amount you wish to withdraw, the ATM screen will display the OTP window.

Enter the OTP number sent to your registered mobile number with SBI on the screen to draw out the cash.

Note: The OTP-based facility is only available at SBI ATMs.

Also Read: SBI ATM at your doorstep now! just call or WhatsApp to get cash; here's how it works

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