to avoid misuse of debit card by fraud sters you will receive an OTP for cash withdrawal for amount above Rs. 10000/- at SBI ATM between 8pm to 8am
Answers
Explanation:
OTP means One time pairing. It is a useful and common technique used by almost all the banks to make their transaction safe and secure. Whenever a customer intends to buy something online or make some changes in his account, the bank sends it an OTP to confirm if the correct person is using that account. As the name suggests, OTP is valid only for one particular transaction.
In question statement, it talks about SBI bank who has now deployed OTP at ATM's also
Answer:
How to save yourself from Frauds
Explanation:
If transaction at ATM fails but your account is debited then the card issuing bank is required to resolve your complaint by re-crediting your account within 7 working days from the date of complaint.
For each withdrawal, the customer is required to enter the debit card PIN along with the OTP (received on the registered mobile). Once the customer enters the withdrawal amount, the ATM will ask for the OTP.The facility is only available at State Bank of India ATMs.