India's largest lender State Bank of India (SBI) has launched a new feature for customers' safety. Taking into consideration the rising incidents of ATM-related frauds. SBI will alert you by sending an SMS If you go to the ATM and want to check your balance or mini statement.
Amid the coronavirus pandemic, this facility will ensure curbing the ATM frauds which has been on a rise. The bank has alerted its customers to be cautious and not to ignore SMS alerts regarding balance enquiry or mini-statement when the request is not initiated by them.
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SBI said in a tweet, "Now every time we receive a request for Balance Enquiry or Mini Statement via ATMs, we will alert our customers by sending an SMS so that they can immediately block their Debit Card if the transaction is not initiated by them".
SBI has asked its customers to be alert and immediately notify the bank in case balance, mini statement requests were not made by them. "It could be a scammer's attempt to check your bank account for the money. Immediately notify and request your bank to freeze your card," SBI said.
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Previously, to protect its customers from unauthorised transactions across all SBI ATMs, SBI had introduced cardless cash withdrawal facility. This new facility allows ATM cardholders to withdraw cash with the help of one-time password (OTP) and it has been active since the start of 2020.
SBI customers will have to provide OTP along with the Debit card PIN for cash withdrawal over Rs 10,000 between 8 pm and 8 am. The OTP-based withdrawal is not available at non-SBI ATMs.
SBI recommended that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. SBI has revised its ATM withdrawal charges effective July 1. The bank has been giving tips to its customers on ways to keep their money safe.
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