State Bank of India (SBI) now requires OTP based ATM withdrawals above Rs. 10,000

[Bapun]

• State Bank of India (SBI) has announced the launch of OTP-based ATM withdrawals above Rs. 10,000
• SBI is introducing the OTP based cash withdrawal system across all SBI ATMs w.e.f. January 1, 2020 which would be functional between 8 P.M. to 8 A.M.
• SBI has urged its customers to register or update their mobile numbers

Noteworthy, this facility will not be applicable for cash withdrawals at non-SBI ATMs because this functionality has not been developed in National Financial Switch (NFS).

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[nambbus]

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