No Debit Card Needed For SBI Cash Withdrawal At ATM! OTP-Based Cash Withdrawal Launched

State Bank of India (SBI) has started an OTP based cash withdrawal facility for its customers.

The OTP is a four-digit number and it will be used to authenticate the user for a single transaction. The new system will get a nice hold and will protect bank accounts from fraudsters.

And guess what, SBI has also termed the new system as “vaccination against fraudsters.” 

What Is SBI OTP-Based Cash Withdrawal System?

OTP based cash withdrawal facility is applicable for Withdrawals of Rs 10,000 or more at SBI ATMs are subject to the OTP-based cash withdrawal process.

“Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority,”

SBI tweeted.

How To Use The SBI OTP-Based Cash Withdrawal System?

SBI will send an OTP to the customer’s registered mobile number. Now the OTP will be a four-digit number. The OTP will authenticate the user for a single transaction only.

“Free Gift from the National Bank of India? Don’t take the bait! Beware of phishing links offering freebies,”

SBI tweeted.

“Are you receiving these links in your inbox? Steer Clear! Clicking on these phishing links could lead to the loss of your personal and confidential information. Stay alert. Think before you click!”

SBI stated.