SBI Money Withdrawal New Rule from September 18th | SBI customers will now be able to make ATM withdrawal of Rs 10,000 and above after an One Time Password (OTP) verification throughout the day from September 18
The OTP-validated ATM transaction was introduced to minimize the number of unauthorized transactions, the State Bank of India had said.
With the introduction of its OTP based cash withdrawal facility, SBI added another layer of security for cash withdrawal through its ATMs.
One time password will be sent to the mobile number of the customer registered with the bank. This additional factor of authentication is to protect State Bank card holders from unauthorized ATM cash withdrawal.
SBI Money Withdrawal New Rule from September 18th. Once the cardholder enters the amount he wants to withdraw, the ATM screen asks for the OTP received on his cellphone.