PNB Introduces New ATM cash withdrawal Rules from 1st December'20

New Delhi: The new rules of the banks – State Bank of India (SBI), Punjab National Bank (PNB) – who revised their cash withdrawal rules are applicable from today.

PNB account holders will need a One Time Password (OTP) for cash withdrawal of 10,000 and above from ATMs.

In case, you are heading out to withdraw cash today of 10,000 or more, do take your mobile with you. As you will have to enter the OTP sent by your bank on your registered mobile number. Without the OTP, cash withdrawals will not be possible for PNB account holders.

The bank on its official Twitter account had posted that customers can easily withdraw money above 10,000 between 8 pm to 8 am.

PNB has also shared a 47-second video clip explaining the steps of how OTP-cash withdrawal at ATMs will work.

Here is how you can withdraw cash at PNB ATMs through OTP-based system

• In order to withdraw cash at PNB ATMs, you will need an OTP

• OTP is a system-generated numeric string of characters that authenticates the user for a single transaction

• Check-in at PNB ATM

• Insert your debit/ATM card

• Enter the necessary details

• If you are withdrawing more than 10,000 at a time, you will get an OTP on your registered mobile number

• Enter the OTP that you have received on your mobile number

• After entering the OTP, you will get your cash

With the introduction of its OTP-based cash withdrawal facility, Punjab National Bank ATMs have added another layer of security for cash withdrawals.

In September, the country's top lender, State Bank of India (SBI), extended OTP-based cash withdrawal for 10,000 and above throughout the day across all its ATMs in the country.

Prior to that, it was available for transaction at SBI ATMs between 8 pm to 8 am.

Also read: Young climate change activist, Licypriya Kangujam urges Indian schools to add climate education in their curriculum

Also watch:  CEM Paban Manta files nomination for Tiwa Autonomous Council polls