State Bank of India Alert: SBI customers will need THIS for cash withdrawals from ATMs

If you are a State Bank of India (SBI) customer, this is an important piece of news for you. According to the changes the lender has made to its cash withdrawals from ATMs, those trying to withdraw an amount of Rs 10,000 and above will have to use the OTP provided by the bank.

This move is to provide better security for its customers. In this new initiative, SBI will now provide OTPs for cash withdrawal to its customers. 

Customers will not be able to withdraw cash without entering the OTP provided by the bank. Basically, at the time of their cash withdrawal, customers will receive an OTP on their registered mobile number and only once they enter that OTP in the ATM machine, will they be able to withdraw cash.

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The bank had tweeted, "Our OTP based cash withdrawal system for transactions at SBI ATMs is a vaccination against fraudsters. Protecting you from fraud will always be our top priority. SBI customers should be aware of how the OTP based cash withdrawal system will work."