SBI offers OTP based cash withdrawal from ATM - Check procedure and benefits here

SBI OTP-based Cash Withdrawal from ATM: The State Bank of India (SBI) customers must note that the bank has introduced OTP based cash withdrawal systems at the SBI ATMs. This facility will prohibit authorised transactions from the SBI ATMs.

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The largest public sector lender in the country has recently tweeted from its official Twitter handle about the OTP based cash withdrawal system from the SBI ATMs. The tweet said, "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."

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

The SBI customers must be aware about how the OTP based cash withdrawal system will work. It will work in the following way:

1) The SBI customers must note that an OTP will be sent to the registered mobile number and the customer can withdraw cash from the ATM by entering the OTP

2) The OTP is a four-digit number that authenticates the user for a single transaction

3) The SBI customers must note that this will protect the SBI card holders from unauthorised ATM cash withdrawals

The SBI customers must note that this is applicable in case of withdrawals of Rs 10,000 and above from SBI ATMs. The SBI customers must also note that this facility is active since January last year.

This facility of the SBI is expected to protect the unauthorised withdrawal of cash from the ATMs. In case of any query and doubts related to SBI, the customers can login to the official website of SBI at sbi.co.in,

As per SBI's website, it is the largest bank in the country with one-fourth market share. The SBI has successfully diversified businesses through its 11 subsidiaries, that is, SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Card, etc. It has spread its presence globally and operates across time zones through 233 offices in 32 foreign countries.