SBI OTP fraud alert! Lender says know how to make online system work

    • SBI OTP fraud alert has just been released by the lender. SBI has alerted its customers and has asked them to visit the official website.
    By HT TECH
    | Updated on Nov 22 2021, 05:39 PM IST
    SBI OTP cash withdrawal system can be used to withdraw cash from bank's ATMs to avoid fraud and unauthorised transactions.
    SBI OTP cash withdrawal system can be used to withdraw cash from bank's ATMs to avoid fraud and unauthorised transactions. (Reuters)
    SBI OTP cash withdrawal system can be used to withdraw cash from bank's ATMs to avoid fraud and unauthorised transactions.
    SBI OTP cash withdrawal system can be used to withdraw cash from bank's ATMs to avoid fraud and unauthorised transactions. (Reuters)

    Are you in need of cash and have to go to the bank ATM for withdrawal? If you are a customer of State Bank of India (SBI) and have to withdraw cash from the ATM then here is an update for you. SBI has introduced an OTP-based cash withdrawal system in order to stop fraud and unauthorised transactions to protect its account holders. This is not the first time the bank has informed about it. The information was provided by SBI over its official Twitter handle where it said, "Our OTP based cash withdrawal system for transactions at SBI ATMs is vaccination against fraudsters. Protecting you from frauds will always be our topmost priority."

    SBI has also informed its customers about how the OTP based cash withdrawal system works. The bank said that an OTP will be sent to the registered mobile number and the customer can use this OTP to withdraw cash from the ATM. The OTP is a four-digit number that authenticates the user for a single transaction and this method will protect the SBI card holders from unauthorised ATM cash withdrawals.

    The SBI customers must note that this is applicable in case of withdrawals of 10,000 and above from SBI ATMs. Also, this facility has been active since January last year. SBI has been very active in informing and alerting its customers about frauds and ways to avoid it.

    The lender has also warned customers against fraudulent customer care numbers and has requested to visit the official website of SBI for correct information and details. The bank on Sunday tweeted, "Beware of fraudulent customer care numbers. Please refer to the official website of SBI for correct customer care numbers. Refrain from sharing confidential banking information with anyone." The official website of SBI can be accessed by clicking on the link- https://sbi.co.in/.

    The SBI customers must note that this is applicable in case of withdrawals of 10,000 and above from SBI ATMs. Also, this facility has been active since January last year. SBI has been very active in informing and alerting its customers about frauds and ways to avoid it.

    The lender has also warned customers against fraudulent customer care numbers and has requested to visit the official website of SBI for correct information and details. The bank on Sunday tweeted, "Beware of fraudulent customer care numbers. Please refer to the official website of SBI for correct customer care numbers. Refrain from sharing confidential banking information with anyone." The official website of SBI can be accessed by clicking on the link- https://sbi.co.in/.

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    According to SBI's website, it is the largest bank in the country with one-fourth market share and has successfully diversified businesses through its 11 subsidiaries. Its subsidiaries include, SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Card, among others. The bank has its presence globally and operates through 233 offices in 32 countries.

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    First Published Date: 22 Nov, 05:39 PM IST
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