Alert! Don’t fall for unauthorised transactions at SBI ATMs; here is how to stay safe

The State Bank of India has a service that allows bank customers to withdraw money using card-less procedure. The facility has been active since the start of this year and it allows ATM cardholders to withdraw cash with the help of OTP. SBI believes that this service protects its customers against unauthorised transactions across all SBI ATMs.

When an SBI customer avails this service, an OTP is sent to the registered mobile number of the customer before cash withdrawal. The OTP is used to authenticate the user for a single transaction. 

Once the customer enters the amount he wishes to withdraw, the ATM screen will display the OTP screen. The OTP received on registered number needs to put in the mentioned screen. 

The bank recently tweeted that OTP-based withdrawals protect its customers against unauthorised transactions.

“An all-new OTP based cash withdrawal system has been in effect since 1st Jan 2020 at all our ATMs. Protect yourself from unauthorized transactions across all SBI ATMs from 8 pm to 8 am,” the lender tweeted.  

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The bank shared how this OTP-based cash withdrawal system will safeguard customers from unauthorized transactions at ATMs.

For cash withdrawal of over Rs 10,000 between 8 pm and 8 am, SBI customers will have to provide OTPs along with the Debit card PIN. This facility is available at all State Bank ATMs since January 1. The OTP-based withdrawal is not available at non-SBI ATMs.

For those unaware, SBI allows 8 free ATM transactions in a month to its regular savings account holders. These include five free transactions from SBI ATMs and three from non-SBI ATMs. Customers in non-metro cities get 10 free ATM transactions, in which 5-5 transactions can be made from SBI and other banks. It then levies Rs 20 + GST for cash transactions and Rs 8 + GST for non-cash transactions.