SBI Extends OTP Security 24×7 for Cash Withdrawal from SBI ATM

Being mindful of the mushrooming of fraudulent banking activities, State Bank of India has decided to improve and secure SBI ATM transactions for its customers. The bank has extended its OTP based cash withdrawal facility for withdrawals of Rs. 10,000 and above, w.e.f 18th September 2020. Earlier, SBI OTP security was furnished for all withdrawals from 8:00 PM to 8:00 AM. However, this security service will now be available 24×7. All MasterCards, Rupay cards, etc. are to be covered under this service.

As the user enters his PIN at the ATM, he will receive an OTP for the particular transaction on the registered mobile number. This OTP needs to be entered into the ATM to process the withdrawal. This facility is going to function for all SBI Debit Cardholders from 18th September 2020, all over India. 

All the SBI customers are requested to carry their mobile phones while transacting at SBI ATM. Moreover, those who haven’t registered their mobile numbers at the bank are required to do so immediately. This measure has been taken in favour of SBI customers’ security which should not be overlooked at any cost. 

There are more than 22000 SBI branches in India and more than 6.6 crore SBI account-holders are using SBI ATM and mobile banking services. The bank’s new 24×7 OTP security rule might trouble the users who have not registered their mobile numbers at the bank. Nonetheless, the decision has been solely made to tighten the security of the customer’s bank account.

How To Register Mobile Number with SBI Account

Registering/updating your mobile number with your SBI account will not just help you keep a track of your transactions, but you will also get notified immediately when an unauthorised transaction is made from your account. You can register your mobile number by visiting your home branch or an SBI ATM. 

Follow these steps for the first time mobile registration at SBI via SBI ATM:

• Insert your SBI ATM Card and select the ‘Registration’ option
• Enter your ATM PIN and then select ‘Mobile Number Registration’
• Enter the mobile number you want to register with your SBI account and press ‘Correct’
• Re-enter the mobile number and press ‘Correct’
• Post that, ‘Thank you for registering your mobile number at SBI’ will be displayed
• You will receive a reference number via SMS on the same mobile number

You will receive a call from SBI call centre within 3 days to authenticate your registration. Ask the customer care executive to quote the reference number to avoid any fraudulent activity. If the reference number is correct, proceed with the verification of the personal details. Your mobile number will be registered at the bank securely.

Note: If you have already registered your mobile number with SBI but want to update the same, you can visit the home branch or log-in to SBI Net-banking portal and select the ‘Change mobile number’ option in the profile section. The same can be done via SBI phone banking, SBI ATM or by calling the SBI toll-free number.

Other Secure Ways to Withdraw Cash – SBI Cardless Cash Withdrawal

SBI has been providing SBI Cardless Cash Withdrawal service, especially for its customers. Under this service, the customers are enabled to withdraw cash from the ATM without a debit card. For this, a customer should have the SBI YONO App installed in his smartphone. Here are the steps-

1. Log-in to SBI YONO App
2. Click on the ‘YONO Cash’ option
3. Go to the ATM and enter the amount you want to withdraw. A maximum of Rs.10,000 can be withdrawn using SBI YONO App in one day
4. You will receive a transaction number on your registered mobile number
5. Visit the nearest SBI YONO Cash Point or any cardless transaction enabled ATM
6. Enter your MPIN and the reference number received on your mobile and collect your cash

Important: YONO Cash Transaction is valid for 4 hours from the time you have received your reference number.