Punjab National Bank (PNB) is going to make cash withdrawal from ATMs more secure for customers. From December 1, PNB 2.0 (PNB, eOBC, eUNI) is going to implement One Time Password (OTP) based cache withdrawal facility. The bank has given this information through its Twitter handle. Also, customers are being informed about this by messaging.
According to PNB’s tweet, between 1 pm and 8 am from December 1, cash withdrawals of more than Rs 10,000 at a time from PNB 2.0 ATM will now be OTP based. That is, PNB customers will need OTP to withdraw more than Rs 10,000 in these night hours. So customers take their mobile with them.
Save the dates!
PNB 2.0 is launching OTP based cash withdrawals from 1st December 2020.
Making withdrawals easy, banking easier. pic.twitter.com/EsuXJvSTM3
— Punjab National Bank (@pnbindia) November 26, 2020
Let us know that United Bank of India and Oriental Bank of Commerce (OBC) have been merged in PNB, which came into effect from 1 April 2020. The entity that came into existence after this has been named PNB 2.0. The bank’s tweet and message clearly stated that OTP based cash withdrawal will be applicable only in PNB 2.0 ATM. That is, OTP based cash withdrawal facility will not be applicable to withdraw money from PNB debit / ATM card from other bank ATM.
SBI has also implemented this facility
Earlier, to protect against ATM fraud, State Bank of India (SBI) has started the facility of OTP based cash withdrawal from ATMs. Earlier, the bank had implemented OTP based cash withdrawal for transactions of more than Rs 10,000 between 1 am and 8 pm from 1 January 2020 at SBI ATMs. Later in September 2020, SBI implemented OTP based ATM withdrawal facility for cash withdrawal of 10000 rupees or more, 24 × 7.