SBI is recognized as the largest government bank in the country. After ICICI, SBI Bank has now decided to introduce new rules regarding ATM. If you are a State Bank of India customer, these rules are very important for you. Because the new rules will be implemented from January 1, 2020. State Bank of India emphasizes on providing good facilities to its customers. These rules have been changed to protect consumers from frauds such as ATM scams and customer theft. Learn what the new rules are for the State Bank.
According to the new State Bank of India rules, if you want to withdraw money through ATM anytime between 8am and 8am, then you will get an OTP password at the mobile number registered with your bank. You can only use this password once. You can withdraw this OTP from your account. This rule will be binding on those withdrawing more than Rs 10,000. It will be implemented from January 1, 2020. State Bank of India has reported this through its Twitter account.
What do you want to do
If you are using an ATM first, update your mobile number with your bank account.
If you are withdrawing money at night, the bank will send you an OTP on your registered mobile number. Do not tell this OTP number to anyone. It can be used only once. There is also a limit of a few seconds.
This process will not work in other bank ATMs at present. This rule is being implemented to prevent fraudulent transactions from ATMs or from banks and fraud by customers.
In addition, if you withdraw money from an ATM more than 5 times and you do not have a Salary Account, you will be charged by the bank. This rule is still in force, but it will continue in the new year.
ICICI Bank had previously introduced additional charges and some new rules for ATMs and other transactions for its customers.
RBI rules to change ATM soon; This will have an impact on consumers
The rules for using ATM card of different banks are going to change. The Reserve Bank on Thursday made the decision. The ATM Service Provider’s new rules for ATM service providers are set to be released on December 31. According to the RBI, the rules of ATM usage will change
The changes will be made to prevent cyber attacks, ATM abuse and cyber crime.
ATM swtich application varies between commercial banks and civil co-operative banks as a service provider. There are no rules. They will be released on December 31. Once that happens, the rules for using an ATM may also change for consumers.