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State Bank of India (SBI) always strives to ensure the safety of its customers’ bank accounts and their debit and credit cards, etc., and all other banking facilities to run smoothly and make them more and more secure.
In this episode, in the year 2022, SBI has started an OTP-based verification process to withdraw money from the SBI ATM machine with the help of an ATM card.
How to withdraw money from SBI ATM Machines with the help of an OTP?
In this process, whenever you go to any SBI ATM machine taking your SBI ATM card with you and want to withdraw cash, now you have to enter an OTP before withdrawing cash, and only then your cash will be processed.
How does the SBI ATM card OTP Verification Process work?
In this process, OTP will come on your number which is registered in your bank account, and this OTP will be of 4 digits. Whenever you go to withdraw the cash through the SBI ATM machine, then to get this you will have to enter an OTP there.
So here you have to pay attention that from now on whenever you go to the SBI ATM machine for cash withdrawal with an SBI ATM card, you will have to keep your registered mobile number with you.
At what amount the OTP will be sent by the SBI ATM Machine to our registered mobile number?
This new rule of SBI will be applicable on the withdrawal of Rs 10,000 and above i.e. when SBI customers get their SBI cash withdrawal done with an SBI ATM card, they will be sent a four-digit OTP on their registered mobile number. The OTP will have to enter the ATM machine immediately and only then the cash will be processed.
Why did SBI do this?
SBI has recently taken this step to make ATM transactions more and more secure. The State Bank of India (SBI) says that it wants to protect its customers from maximum ATM fraud.
After the start of this facility, you will not be able to withdraw cash unless you do OTP verification, that is, you will not enter the OTP in the machine.
Let us tell you that SBI is the largest bank in India. The total combined number of people using SBI’s Internet Banking and Mobile Banking is more than 11 crores.