SBI ATM users have something to cheers and worry about. If you are planning to withdraw an amount greater than 10000, you must carry your registered mobile number with you. If you miss to carry the number, you won’t be able to withdraw amount greater than 10,000
With effect from 18th September, SBI has secured the transactions > 10,000 with an OTP even during ATM withdrawal. This will reduce the chances of ATM fruads.
Here is how the OTP based withdrawal works.
- An OTP will be sent to your Registered Mobile Number
- The OTP is a number string of characters that authenticates the user for a single transaction
- This will protect SBI Card holders from unauthorised ATM cash withdrwals.