Punjab National Bank (PNB), from December 1, has changed rules for withdrawing cash from ATMs. From now onwards, PNB account holders need a one time password (OTP) for cash withdrawal of Rs 10,000 and above from ATMs.
So, if you want to withdraw Rs 10,000 and above from PNB ATMs, do carry your mobile phone on which the OTP will be sent by the bank on your registered mobile number. If you fail to carry a mobile phone then it is impossible for you to withdraw cash from ATMs.
Also Read | SBI ATM cash withdrawal new rules from today: All you need to know
Customers can now easily withdraw money above Rs 10,000 between 8 PM to 8 AM, according to PNB bank.
"Save the dates! PNB 2.0 is launching OTP based cash withdrawals from 1st December 2020. Making withdrawals easy, banking easier", PNB on its official Twitter handle posted a tweet.
PNB also tweeted a 47-second video clip explaining the steps of how OTP-cash withdrawal at ATM's will work."Watch Video| Here's how to use PNB's OTP based cash withdrawal service at ATMs with these steps!".
PNB ATMs through OTP-based system - Here are steps:
- You will need an OTP to withdraw cash upto Rs 10,000 and above at PNB ATMs.
- Bank will send OTP to your registered number.
- OTP is a system-generated numeric string of characters that authenticates the user for a single transaction.
- You will get an OTP on your registered mobile number, if you are withdrawing more than Rs 10000 at a time.
- Received OTP on your registered mobile number should be entered.
- You will get cash of Rs 10,000 and above after entering OTP.
PNB ATMs have added another layer of security for cash withdrawals with the introduction of its OTP-based cash withdrawal facility.State Bank of India
(SBI), from September 18, has extended OTP-based cash withdrawal for Rs 10,000 and above throughout the day across all SBI ATMs in the country.