No OTP, No Cash! PNB Customers Can’t Withdraw Cash From ATM If OTP Not Present For These Transactions
Effective December 1st, Punjab National Bank or PNB has implemented a new OTP based cash withdrawal service at ATMs.
Infact, if the PNB customer doesnt have OTP, they will not be able to withdraw any cash.
Which transactions will need OTP?
Keep reading to find out more..
No OTP, No Cash!
Punjab National Bank has now introduced a mandatory OTP based cash withdrawal system at ATMs, effective December 1st.
This means that if the customer is not able to get OTP for some transactions, they won’t be able to get cash.
Not all transactions are covered under this rule, and there are some specific timings as well, for this rule.
Which Transactions Will Need OTP?
For withdrawing more than Rs 10,000 from any PNB ATM, customers will now need OTP.
This new OTP rule is mandatory, between 8PM and 8AM, for withdrawaing cash at PNB 2.0 ATMs, which are PNB, eOBC, eUNI ATMs.
This new mechanism has been introduced by PNB and Govt of India to secure all cash withdrawals from ATMs, and to ensure that no unauthorized person is able to withdraw cash or conduct fraud.
Hence, carrying your mobile to an PNB ATM has now become mandatory fr all customers.
How It Works: The OTP Process To Withdraw Cash
Once the customer inserts his/her debit card into the ATM, and enters the amount, the system will check whether the amount is more than Rs 10,000 or not.
If it is, then the customer will get a prompt to enter OTP, which will be automatically sent to the registered mobile number.
Once the OTP is entered, then only cash can be withdrawn.
We will keep you updated, as more details come in.