Punjab National Bank (PNB) is going to implement One Time Password (OTP) based cash withdrawal facility from December 1. The bank has said that cash withdrawals of more than Rs 10,000 at a time between 8 pm and 8 am from 1 December 2020 from PNB 2.0 (PNB, eOBC, eUNI) ATMs 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.
Along with this announcement, PNB has also told how customers can withdraw cash using OTP in bank ATMs at night hours. The customer just has to follow a few steps…
- Go to PNB ATM and insert your debit / ATM card in the card slot.
- Enter the necessary details to remove the cache.
- To withdraw more than 10000 rupees at a time, after entering the amount in the ATM, the customer will get an OTP on the mobile number already registered with the bank.
- With this, the screen will come to enter OTP on the ATM screen. In this, you have to enter the OTP on the mobile number.
- After entering OTP, the customer will get cash from ATM.
PNB says that OTP based cash withdrawal has been brought in to make ATM transactions more secure for the customer.
What is PNB 2.0
The merger of United Bank of India and Oriental Bank of Commerce (OBC) into PNB with effect from 1 April 2020. After this, the new entity came into existence, it has been named PNB 2.0. OTP based cash withdrawal will be applicable in PNB 2.0 ATM only. That is, OTP based cash withdrawal facility will not be applicable to withdraw money from PNB debit / ATM card from other bank ATM.