India’s largest public sector lender State Bank of India (SBI) brings host of convenient and safe features for customers for financial needs and also protects them from the fraudsters.
SBI’s OTP-based ATM cash withdrawal help an additional factor of authentication that protects SBI card holders from unauthorized ATM cash withdrawals.
SBI in a Tweet :
“Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority,” .
How SBI OTP-Based ATM Cash Withdrawal Work?
The OTP-validated ATM transaction was introduce in 2020 to stop the number of unauthorise transactions.
With OTP-base cash withdrawal facility, State Bank of India had adds another layer of security for cash withdrawals through its ATMs service.
OTP would be receive on the customer”s mobile number register with the bank.
This new factor of authentication protects State Bank card holders from unauthorize ATM cash withdrawals
Who can use SBI OTP-Based ATM Cash Withdrawal Services?
This facility will not be applicable for transactions as a State Bank card holder withdraws cash from another bank’s ATM.
Because this functionality has not been develop in National Financial Switch (NFS), as per SBI.
NFS is the largest interoperable ATM network in the country and it manages more than 95% of the domestic interbank ATM transactions.
How to Withdraw Money Using SBI OTP-Based ATM Cash Withdrawal Service?
Follow These Steps :
- Go to ATM
- Enters the amount you wishes to withdraw.
- ATM screen displays the OTP window.
- Enter the OTP receive on the register mobile number to complete the transaction.
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