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Home >Money >Personal Finance >SBI ATM cash withdrawal over 10,000 with OTP. How to do it?

The State Bank of India (SBI) offers a safe way to withdraw cash over 10,000 across all SBI ATMs. This new facility, which was introduced on 1 January, 2020, allows ATM cardholders to withdraw cash with the help of one-time password (OTP). "An all new OTP based cash withdrawal system has been in effect since 1st Jan 2020 at all our ATMs. Protect yourself from unauthorized transactions across all SBI ATMs from 8 PM to 8 AM," SBI tweeted.

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

1) In order to withdraw cash at SBI ATMs, you will need an OTP

2) OTP will be sent to your registered mobile number.

3) Once you enter the amount that you wish to withdraw, the ATM screen will display the OTP screen.

4) Now, you will have to enter the OTP received on your mobile number registered with the bank in the screen for getting the cash.

5) This additional factor of authentication will protect SBI card holders from unauthorized ATM cash withdrawals.

6) SBI's OTP-based cash withdrawal system is applicable for transactions above 10,000.

7) SBI's OTP-based cash withdrawal system is active between 8 pm and 8 am.

8) This facility for cash withdrawal at SBI ATMs will not be applicable for transactions, where a SBI card holder withdraws cash from another bank's ATM.

Country's top lender, SBI, has revised ATM withdrawal charges effective 1 July. In view of the coronavirus pandemic, SBI had announced waiver of ATM service charges for a period of three months, till 30 June.

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