SBI ATM News: Various fraudulent cycles are being activated day after day. Fraudsters are stealing money from customers’ bank accounts in various ways. Money is often withdrawn even with a lost ATM card. State Bank of India has already come up with a method to stop this fraud. This time the country’s largest bank has decided to follow that rule more strictly.
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.#SBI #StateBankOfIndia #ATM #OTP #SafeWithSBI #TransactSafely #SBIATM #Withdrawal pic.twitter.com/uCbkltrP8T
— State Bank of India (@TheOfficialSBI) October 24, 2021
Recently, the bank tweeted that OTP is becoming mandatory for withdrawing large sums of money. In other words, in order to withdraw money from an ATM, SBI customers have to take the phone with them to the respective account. If you want to withdraw 10 thousand or more, an OTP will come on the phone. Money can be withdrawn only after using it. A maximum of Rs 9,900 can be withdrawn at a time through the card alone. If you want to make more than this, you have to do more than one transaction.
However, if SBI customers withdraw money from another bank’s ATM, this method will not work. This is because the system has not yet been integrated into the National Financial Switch (NFS) system. Through this NFS system, customers of all banks can withdraw money from any other ATM.