Home >Money >Personal Finance >PNB customers won't be able to withdraw money from these ATMs from today

In an attempt to check frauds, the Punjab National Bank (PNB) has taken a giant step and won't allow its customers to withdraw money from non-EMV automated teller machines (ATMs) from today(1 February 2021). PNB has already informed its customers that it will be restricting both financial and non-financial transactions from non-EMV ATM machines from 1 February.

"To protect our esteemed customers from fraudulent ATM activities, PNB will be restricting transactions (financial and non-financial) from Non-EMV ATM machines from February 1, 2021, Go Digital, Stay Safe!" the bank had tweeted.

What are non-EMV ATMs

Non-EMV ATMs are those which reads data through magnetic strips and do not hold the ATM card during the transaction.

In December 2020, the bank had changed rules for withdrawing cash from ATMs. PNB account holders get a One Time Password (OTP) for cash withdrawal of 10,000 and above from ATMs between 8 pm to 8 am. Without OTP, cash withdrawals are not possible for PNB account holders. With the introduction of its OTP-based cash withdrawal facility, PNB ATMs have added another layer of security for cash withdrawals.

Here is how to withdraw cash at PNB ATMs through OTP-based system

-In order to withdraw cash at PNB ATMs, you will need an OTP

-OTP will be sent to your registered mobile number.

-OTP is a system-generated numeric string of characters that authenticates the user for a single transaction.

- Check-in at PNB ATM.

- Insert your debit/ATM card.

- Enter the necessary details.

- If you are withdrawing more than 10000 at a time, you will get an OTP on your registered mobile number.

- Enter the OTP that you have received on your mobile number.

- After entering OTP, you will get cash.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout