At present, only a few banks in the country have this facility. One of these banks is also SBI. The country’s largest government bank SBI can withdraw cash from ATMs even without a card. Transactions will be easy to use.
On Friday, the Reserve Bank of India (RBI) announced to allow all banks to start the facility of withdrawing cash from ATMs without a card (cardless). At present, only a few banks in the country have this facility. One of these banks is also SBI. You can withdraw cash even without a card from the ATM of the country’s largest government bank SBI.
Actually, from January 1, 2020, SBI started OTP based transactions. Under this facility, first of all an OTP will be sent to the SBI customer on the registered mobile number. Customer can withdraw cash from ATM by entering this OTP. This OTP will be valid for few minutes and for one time transaction. In this way, you can withdraw 10 thousand rupees or more at a time. This means to say that customers will not need SBI’s debit card for this.
Many banks are offering this facility: Let us tell you that apart from SBI, major banks like ICICI Bank and HDFC Bank are offering this facility. To use the facility, customers need to register on the respective bank’s app or website and make cardless cash withdrawals. With the latest RBI announcement, cardless transactions can now be done at any ATM, irrespective of the customer’s bank.
Reserve Bank Governor Shaktikanta Das said that using this will make it easier to do transactions. Along with this, the facility of cardless cash withdrawal will also help in preventing frauds like card cloning. Separate instructions will be issued to NPCI, ATM network and banks in this regard soon.
