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    dear customer, to make your atm transactions safer and more secure, otp will be sent to your registered mobile number, for all cash withdrawals of rs 10000 and above & for all transactions if iob atm finds difficulty to recognize emv chip on your card. please enter otp in atm and complete such transactions- iob

    Mohammed

    Guys, does anyone know the answer?

    get dear customer, to make your atm transactions safer and more secure, otp will be sent to your registered mobile number, for all cash withdrawals of rs 10000 and above & for all transactions if iob atm finds difficulty to recognize emv chip on your card. please enter otp in atm and complete such transactions- iob from screen.

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    स्रोत : iob.in

    Cash Withdrawals Over Rs.10,000 From SBI ATMs Only With OTP

    SBI adds a layer of safety by allowing customers to withdraw cash over Rs.10,000 from their ATMs, only after authenticating the transaction with an OTP.

    Home Cash Withdrawals Over Rs.10,000 From SBI ATMs Only With OTP

    Personal Finance

    Cash Withdrawals Over Rs.10,000 From SBI ATMs Only With OTP

    2 minute read

    Published on 08 July 2020

    AUTHOR

    Athena Rebello

    State Bank of India (SBI) offers customers a secure way of withdrawing cash over Rs.10,000 from their ATMs. Cardholders can withdraw cash with the help of a one-time password (OTP) sent to their registered mobile numbers. The facility will help protect cardholders from unauthorised transactions between 8 p.m. and 8 a.m. each day. This has been in effect since January 2020, as per a tweet from SBI’s official handle.

    Once you withdraw cash from an SBI ATM, here’s what will happen:

    According to SBI, the OTP will be to the registered mobile number of the cardholder before the cash withdrawal. The OTP will be a numeric string of characters that will authenticate the user and can be used for a single transaction.

    Once the customer enters the amount of cash he wishes to withdraw, a screen to enter the OTP will be displayed.

    The customer will need to input the OTP to withdraw the cash.

    Also Read: Govt Update TDS Rules to Discourage Cash Transactions

    The tweet stated that this service would apply to withdrawals over Rs.10,000. The customers will still need to input their debit card PIN, along with the OTP. This facility for cash withdrawal at SBI ATMs will not be applicable for transactions, where an SBI cardholder withdraws cash from another bank’s ATM.

    “With this facility, SBI has added another layer of safety and security in all its ATMs to minimise the number of unauthorised ATM transactions”, the bank said. “This will safeguard the customers against the risk of unauthorised transactions on account of skimmed/cloned cards, while withdrawing cash at State Bank ATMs”, the statement further added.

    For any clarifications/feedback on the topic, please contact the writer at [email protected]

    Athena Rebello

    I’m a Chartered Accountant by profession and a writer by passion. ClearTax lets me be both. I love travel, hot tubs, and coffee. I believe that life is short, so I always eat dessert first. Wait.. life is also too short to be reading bios… Go read my articles!

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    Withdrawing Rs 10,000 from SBI ATM? You will need an OTP

    In order to protect its customers from fraudulent ATM transactions, the State Bank of India has added a new layer of protection by means of a one-time password or OTP.

    Withdrawing Rs 10,000 from SBI ATM? You will need an OTP

    In order to protect its customers from fraudulent ATM transactions, the State Bank of India has added a new layer of protection by means of a one-time password or OTP.

    Team Newsable

    New Delhi, First Published Jul 25, 2022, 11:00 AM IST

    In order to protect its customers from fraudulent ATM transactions, the State Bank of India has added a new layer of protection by means of a one-time password or OTP.

    The new layer of authentication will be required for customers withdrawing Rs 10,000 or more in a single transaction.

    Also Read: Weekly Horoscope Predictions, July 25 to July 31

    SBI customers would now need to carry their phones to the ATM along with their debit cards. Upon inserting the card into the machine to withdraw money, the customer will get an OTP on their registered mobile number. SBI customers will need to enter the OTP to authenticate the transaction and withdraw the amount.

    The OTP will be valid for a single transaction.

    India's largest lender initiated the OTP-based cash withdrawal service in January 2020. According to reports, some banks are expected to switch to cash withdrawals from ATMs.

    Steps to withdraw cash using OTP:

    Step 1

    Insert your debit card and enter the ATM PIN

    Step 2

    Insert the amount to be withdrawn

    Step 3

    You will be asked for an OTP received on your registered mobile number via SMS

    Step 4

    Enter the OTP received on your phone on the ATM screen

    Step 5

    Complete the transaction

    Also Read: 'Poor in India can fulfil dreams': President Droupadi Murmu addresses ParliamentAlso Read: Weekly Tarot Card Readings, July 25 to July 31: Leo must keep faith alive, Gemini will feel restlessAlso Read: Love, relationship, marriage horoscope: Check predictions from July 25 to July 31

    Last Updated Jul 25, 2022, 11:00 AM IST

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    स्रोत : newsable.asianetnews.com

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