PNB's new ATM cash withdrawal rules to be applicable from December 1

After the State Bank of India, Punjab National Bank, the country's second-largest government bank has changed rules for withdrawing cash from ATMs.

After the new changes, Punjab National Bank (PNB) account holders from December 1, 2020, will need a One Time Password (OTP) to withdraw cash from automated teller machines (ATMs). Without OTP, cash withdrawals will not be possible for PNB account holders.

The step has been taken by the bank to make a cash withdrawal from ATMs more safe and secured. According to the bank, cash withdrawals of more than Rs10,000 between 8 pm and 8 am will be OTP based. It is therefore advisable to carry your mobile phones with you while visiting a PNB ATM centre as the OTP will be sent on the registered mobile number by the bank.

The bank says that this will help prevent fraud involving ATMs and also prevent card cloning fraud. 

Below is the mentioned procedure for OTP based cash withdrawal from PNB bank ATMs.

Insert your debit/ATM card.

- Enter the necessary details.

- For withdrawing more than Rs 10000 at a time,  an OTP will be sent on your registered mobile number.

- Enter the OTP on your mobile number after receiving it.

- After entering OTP,  the ATM machine will dispense cash.