Why SBI is threatening to block this service for bank account holders

State Bank of India has recently issued a notification asking customers to link their bank accounts with mobile numbers. The notification states that net banking facility will be blocked for those SBI account holders who have not updated their number with SBI and are still doing online transactions. As per the notification on SBI official website, it is mandatory for users to register mobile number for availing net banking services, failing which the bank may block account holders' access to Internet Banking Services. Customers need to register their mobile numbers before 1 December 2018 by visiting any nearest branch of SBI.

SBI is threatening to block this service for bank account holders to save their money

According to RBI advisory, it is mandatory to register mobile number in order to avail Internet Banking Services. Thus, SBI has taken this step in interest of its customers to protect them from ongoing banking frauds. Not just cheats in India, hackers from abroad, especially North Korea have been stealing money from bank ATMs, it was reported recently by security software company Symantec.

If bank account holders register their cell phone number with SBI, then the bank will inform them immediately of each and every transactions that happen in their account via SMS. So, it is in benefit of the bank account holders to register their mobile number, which may save them from losing money unknowingly. 

Watch This Zee Business Vidoe Here:

Apart from this, the bank has issued two customer helpline numbers 18004253800/1800112211 to notify any unauthorized electronic transaction immediately. Thus, longer the time taken to notify, higher would be the risk of loss to you.