Mumbai: In a bid to protect customers from unauthorised transactions at ATMs, the State Bank of India (SBI) has added a One Time Password (OTP) security layer for withdrawals from ATMs.
The service is enabled for cash withdrawals of over Rs 10,000, between 8 pm and 8 am. Customers can also opt-in for the service, if they wish.
The ATM will ask for an OTP sent to the registered mobile number of the customer before cash withdrawal. Cash will be dispensed by the machine only after the OTP is validated.