New Year is coming, and SBI is also happening with new security launch. As per SBI ATM 2020 notification your cash withdrawal will be safer than previous terms. They are ready to make some functional changes in their names. SBI believes in Safe Transaction, that’s why they are implementing it in 2020 plans. People can easily understand the terms.
Today’s time security of your money is critical because there are lots of cases in which people misuse the ATM after your transaction. After considering all these fraud kind of thing, SBI announced that from 1st of January people will get OTP facility on SBI ATM. If someone makes cash withdrawal from SBI ATM, then he will get an OTP in his phone which is joint from his bank account. And after entering that OTP, he will be able to proceed with the next step. And can complete the Cash Withdrawal Safely. It is SBI ATMs new rule for 2020.
Most Important thing about this launch is that you can take this advantage only with SBI. If you do the Cash Withdrawal process from another bank’s ATM, then you will not get this advantage. This critical step is providing by SBI to only SBI users.
How SBI OPT Facility will work???
- In the first stage of the transaction, the customer will get an OTP in his registered bank account number in numeric form.
- Now he has to input that OTP in ATM and after that ATM will give his final statement, and then he will collect the money. It is SBI OTP based withdrawal which is secure.
- SBI new launch will start from 1st of Jan. It is a security-based term which is genuinely very important.
- If you are expecting that you can get this secure facility from any ATM, then you are taking this facility wrong because it is only for SBI ATM.
- Cash Withdrawal Safety is only available on SBI card not on another card.
- There is no significant change in SBIs previous policies. Only OTP change is new rather than others are same.
Must Know About These Points
- You will get the OTP when you are making cash withdrawal above than 10,000rs otherwise it will not apply.
- Unauthorized cash withdrawal does not refer to this policy.
- Carry the same phone number which registered from your SBI bank account.
State Bank of India took a big decision to all the customers for their money security. And it will implement from 1st January 2020. It is safe SBI OTP based withdrawal facility. After adopting this change, other people will not be able to use your information in the wrong way. And you will secure your money and information.