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SBI extends time for OTP-based cash withdrawal from ATMs. Details here

SBI extends time for OTP-based cash withdrawal from ATMs. Details here

SBI extends time for OTP-based cash withdrawal from ATMs. Details here
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By Anshul  Sept 16, 2020 4:08:04 PM IST (Published)

Country's largest lender State Bank of India (SBI) on Wednesday has announced the extension of time for the OTP-based cash withdrawal from ATMs.

Country's largest lender State Bank of India (SBI) on Wednesday has announced the extension of time for the OTP-based cash withdrawal from ATMs.

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From September 18, 2020, customers will be able to make ATM withdrawal of Rs 10,000 and above after an OTP verification throughout the day.
This service is currently available only between 8:00 AM-8:00 PM.
"With the introduction of 24x7 OTP-based cash withdrawal facility, SBI has further strengthened the security level in ATM cash withdrawals. Implementing this facility throughout the day would prevent SBI debit cardholders from the risk of falling prey to fraudsters, unauthorised withdrawals, card skimming, card cloning and the likes," SBI said in a statement.
This facility allows SBI’s customers to withdraw Rs 10,000 and above from its ATMs by entering an OTP sent on their registered mobile number, along with their debit card PIN each time. This service is not applicable for transactions, where a SBI customer withdraws cash from another bank's ATM.
When the cardholders enter the amount they wish to withdraw, OTP screen is  displayed. The customers have to put the OTP that the bank will send to the registered mobile number.
OTP is a system-generated a string of numeric characters that allow users to make a single transaction.
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