SBI Extends OTP-Based ATM Withdrawal Throughout the Day
4 years, 3 months ago

SBI Extends OTP-Based ATM Withdrawal Throughout the Day

The Quint  

To reinforce ATM security system, lending major State Bank of India on Tuesday, 15 September, has extended its OTP-based cash withdrawal for Rs 10,000 and above throughout the day. OTP-based cash withdrawal for Rs 10,000 can now be carried out throughout the day across all SBI ATMs in the country starting 18 September. "For withdrawing Rs 10,000 and above, SBI debit card holders now have to enter OTP sent on their registered mobile numbers along with their debit card PIN each time," the lender said in a statement. 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, the release said.

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History of this topic

SBI launches ‘Mobile Handheld Device’ for financial inclusion customers
1 year, 2 months ago

SBI launches ‘Mobile Handheld Device’ for financial inclusion customers

Live Mint  

The State Bank of India has on October 4 launched a 'Mobile Handheld Device’ for its financial inclusion customers in a bid to enhance accessibility and convenience. Chairman Dinesh Khara in a statement said the initiative "aims to empower financial inclusion and extend essential banking services to the masses." The release added that the Mobile Handheld Device will "revolutionalise banking …

India's first UPI-ATM unveiled for hassle-free, cardless cash withdrawals. Here's how it works
1 year, 3 months ago

India's first UPI-ATM unveiled for hassle-free, cardless cash withdrawals. Here's how it works

Hindustan Times  

India's first UPI-ATM was launched on Tuesday as a White Label ATM by Hitachi Payment Services in collaboration with the National Payments Corporation of India in order to enable “seamless cash withdrawals”, eliminating the need to carry physical ATM cards. The UPI-ATM service, also known as Interoperable Cardless Cash Withdrawal, offers a convenient way for customers of participating banks who …

SBI Card revises cashback benefits on service, check details here
1 year, 8 months ago

SBI Card revises cashback benefits on service, check details here

Live Mint  

SBI Cards and Payments is all set to revise some of the services on Cashback SBI Card from 1 May,2023. In a notification issued on Thursday, SBI Cards and Payments said Cashback SBI Card will not offer any cashback on services like jewelry, school and educational services, utilities, insurance services cards, member financial institution/quasi cash, and railways and others. Please …

This credit card will help you get cashbacks on utility bill payments
2 years, 3 months ago

This credit card will help you get cashbacks on utility bill payments

Hindustan Times  

The SBI Card has launched its cashback-focused credit card in India which will enable the customers to earn five per cent cashback on all online spends without any merchant restrictions. The Cashback SBI Card available on VISA platform targets customers across all categories and offers a simple, seamless and digital joining experience, the company said in a statement. The Cashback …

SBI ATM Withdrawal Rule: Want to Withdraw More Than Rs 10,000? You Need to Enter OTP
2 years, 4 months ago

SBI ATM Withdrawal Rule: Want to Withdraw More Than Rs 10,000? You Need to Enter OTP

News 18  

SBI ATM Cash Withdrawal Rules: The State Bank of India, or SBI, which has the highest number of customers in the country, has always been alert about preventing ATM scams. The lender has in effect a one-time password based cash withdrawal system whereby customers who wish to withdraw money from an SBI ATM will have to enter an OTP. How …

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges
2 years, 6 months ago

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges

News 18  

The country’s largest lender State Bank of India offers five free transactions for customers maintaining a monthly balance of up to Rs 1 lakh at its ATMs in Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad. SBI charges Rs 10 to withdraw money from the bank’s ATM beyond the free limit, while it levies Rs 20 for financial transactions from other …

Cardless cash withdrawal via UPI at all banks' ATMs soon | How will this benefit you
2 years, 8 months ago

Cardless cash withdrawal via UPI at all banks' ATMs soon | How will this benefit you

India Today  

The Reserve Bank of India on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI. The RBI said that the absence of a need for a card to initiate cash withdrawal transactions would help in containing …

Card-less cash withdrawal facility across all banks' ATM network soon: RBI
2 years, 8 months ago

Card-less cash withdrawal facility across all banks' ATM network soon: RBI

India TV News  

Highlights The facility is proposed to be made available through the Unified Payments Interface Settlement of such transactions would happen through the ATM networks In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all …

SBI ATM Withdrawal New Rule: How to Withdraw Cash Using OTP to Avoid Frauds
3 years, 1 month ago

SBI ATM Withdrawal New Rule: How to Withdraw Cash Using OTP to Avoid Frauds

News 18  

At a time when ATM frauds have become common across the whole country, the State Bank Of India has come up with a unique solution to protect its ATM card users from falling into the trap. The new move taken by SBI to inch towards better safety is the introduction of an OTP based cash withdrawal system from the ATMs. …

SBI ATM Cash Withdrawal Charges: SBI Changes Rules For Cash Withdrawals From July 1
3 years, 5 months ago

SBI ATM Cash Withdrawal Charges: SBI Changes Rules For Cash Withdrawals From July 1

ABP News  

State Bank of India is going to bring changes in the service charge from July 1. That is, from Thursday, SBI will revise the service charges for withdrawing cash from its ATMs and bank branches. According to the SBI website, BSBD account holders will be able to make four free cash withdrawals per month from ATMs and bank branches. Senior …

SBI ATM Cash Withdrawal Rules, Charges to Change from Next Month. Details Here
3 years, 5 months ago

SBI ATM Cash Withdrawal Rules, Charges to Change from Next Month. Details Here

News 18  

Starting from next month, State Bank of India is all set to change the rules and charges for cash withdrawals from its ATMs and bank branches. Know new rules 1) The changes will be applicable for SBI Basic Savings Bank Deposit account holders. Touted as zero balance savings account, SBI Basic Savings Bank Deposit account is meant for poorer sections …

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon
3 years, 6 months ago

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon

News 18  

The Reserve Bank of India has allowed banks to increase charges on automated teller machines to Rs 21 per transaction. For customers using other bank ATMs for cash withdrawal are allowed three free ATM transactions in metro cities and five in non-metro centres. “It is also observed that the last change in interchange fee structure for ATM transactions was in …

SBI Rule Change: Cash Withdrawal from ATM to Cheque Books, Check New Charges
3 years, 6 months ago

SBI Rule Change: Cash Withdrawal from ATM to Cheque Books, Check New Charges

News 18  

India?s largest public sector bank, the State Bank of India has introduced new rules for cash withdrawal at its branches and ATMs. As per the official notification issued by the bank, the new rules will be applicable for Basic Savings Bank Deposits account holders of SBI, and will come into effect from July 1, 2021. For every additional cash withdrawal, …

SBI ATM cash withdrawal, chequebook charges changed for these account holders. Details here
3 years, 6 months ago

SBI ATM cash withdrawal, chequebook charges changed for these account holders. Details here

Live Mint  

The country's top lender State Bank of India has revised service charges for Basic Savings Bank Deposit account holders. Cash Withdrawal At SBI branches The bank will recover charges beyond four free cash withdrawal transactions. Chequebook charges SBI would provide 10 cheque leaves free in a financial year to BSBD account holders. Non-financial transactions There would not be any charges …

SBI makes online banking safe with OTP-based login for every transaction. Here is how
3 years, 7 months ago

SBI makes online banking safe with OTP-based login for every transaction. Here is how

Live Mint  

State Bank of India, has come up with One Time Password to make customer's transactions safer. "SBI makes online banking safer with our OTP based login for added security. If you want an alert on your mobile phone for every transaction, you need to set a high-security password for your SBI account. A high-security password using the OTP method will …

Fraudsters find new ways to withdraw money from ATMs
3 years, 8 months ago

Fraudsters find new ways to withdraw money from ATMs

India TV News  

In view of increasing incidents of Man in the Middle attacks on ATMs, all banks have been asked to enhance their safety norms for ATMs through end-to-end encryption in the network, officials said. Investigations by security agencies have found that cyber fraud gangs have started adopting a new modus operandi to withdraw money from ATMs, a security official aware of …

SBI to change ATM cash withdrawal rules from September 18. Know details
4 years, 3 months ago

SBI to change ATM cash withdrawal rules from September 18. Know details

Live Mint  

India's biggest bank SBI is extending OTP-based cash withdrawal for ₹ 10,000 and above throughout the day across all SBI ATMs in the country. For safeguarding customers, SBI had introduced OTP based cash withdrawals of above ₹10,000 between 8 PM – 8 AM through SBI ATMs from January 1, 2020. "With the introduction of 24x7 OTP-based cash withdrawal facility, SBI …

SBI ATM-cum-debit card gets new safety feature
4 years, 3 months ago

SBI ATM-cum-debit card gets new safety feature

Live Mint  

State Bank of India customers can now block transactions on their ATM-cum-debit card via SMS. SBI's new facility for debit card users will help curb the ATM frauds which have been on the rise. Other ways to block ATM-cum-debit cards are through customer care call, net banking and SBI Quick app. SBI recommends that customers should conduct ATM transactions in …

Insufficient balance: How much SBI will charge for failed ATM transaction
4 years, 4 months ago

Insufficient balance: How much SBI will charge for failed ATM transaction

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. As per the information available on the official website of the State Bank of India sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. The bank allows its customers maintaining an average balance of …

SBI’s 10 ATM safety mantras: Follow these tips to prevent debit card fraud
4 years, 4 months ago

SBI’s 10 ATM safety mantras: Follow these tips to prevent debit card fraud

Live Mint  

State Bank of India has given some tips to its customers on ways to keep their money safe. SBI has recommended that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. SBI has shared some tips on safe banking at ATMs: 1) Use your hand to cover the keypad while using an ATM …

SBI ATM cash withdrawal over ₹10,000 with OTP. How to do it?
4 years, 5 months ago

SBI ATM cash withdrawal over ₹10,000 with OTP. How to do it?

Live Mint  

The State Bank of India offers a safe way to withdraw cash over ₹10,000 across all SBI ATMs. "An all new OTP based cash withdrawal system has been in effect since 1st Jan 2020 at all our ATMs. 5) This additional factor of authentication will protect SBI card holders from unauthorized ATM cash withdrawals. 6) SBI's OTP-based cash withdrawal system …

SBI new ATM withdrawal rules: Transaction limits, charges and other details
4 years, 5 months ago

SBI new ATM withdrawal rules: Transaction limits, charges and other details

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. In view of the coronavirus pandemic, SBI had waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs on account of exceeding free number of transactions. "In view of the announcement made by Finance Minister on 24th March, …

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