Mumbai: Starting September 18, State Bank of India (SBI) account holders would be able to make ATM withdrawals of Rs 10,000 and above round the clock. The country's largest bank has decided to remove the time limit of 8 PM-8 AM on such withdrawals from Friday.
"With the introduction of 24×7 OTP-based cash withdrawal facility, State Bank of India 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," SBI said in a statement.
Earlier in January, SBI had introduced OTP-based cash withdrawals for Rs 10,000 and above between 8 PM – 8 AM only.
SBI has urged all its customers to carry their mobile phones while transacting at ATMs and register their number at branch/ATM, if not registered.
Once the card bearer enters the amount, he/she wishes to withdraw, the ATM screen would display the OTP window. Here, the customer has to enter the OTP received on the registered mobile number to complete the transaction.
This facility of authentication would protect the State Bank account holders from unauthorised ATM cash withdrawals.
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