- State Bank of India (SBI) has introduced new feature to counter ATM frauds
- The bank has been giving tips to its customers on ways to keep their money safe
Taking into consideration the rising incidents of ATM-related frauds, State Bank of India (SBI) has introduced a new feature for customers’ safety. If you go to the ATM and want to check your balance or mini statement, SBI will alert you by sending an SMS. This facility will ensure curbing the ATM frauds which has been on a rise amid the coronavirus pandemic. The bank has alerted its customers to be cautious and not to ignore SMS alerts regarding balance enquiry or mini-statement when the request is not initiated by them.
“Now every time we receive a request for Balance Enquiry or Mini Statement via ATMs, we will alert our customers by sending an SMS so that they can immediately block their Debit Card if the transaction is not initiated by them,” the country’s largest lender said in a tweet.
SBI has asked its customers to be alert and immediately notify the bank in case balance, mini statement requests were not made by them. “It could be a scammer’s attempt to check your bank account for the money. Immediately notify and request your bank to freeze your card,” SBI said.
Introducing a new feature for our customers' safety.
Now every time we receive a request for #BalanceEnquiry or #MiniStatement via ATMs, we will alert our customers by sending an SMS so that they can immediately block their #DebitCard if the transaction is not initiated by them. pic.twitter.com/LyhMFkR4Tj— State Bank of India (@TheOfficialSBI) September 1, 2020
Earlier, SBI had introduced cardless cash withdrawal facility to protect its customers from unauthorised transactions across all SBI ATMs. This new facility has been active since the start of 2020 and allows ATM cardholders to withdraw cash with the help of one-time password (OTP). For cash withdrawal over ₹10,000 between 8 pm and 8 am, SBI customers will have to provide OTP along with the Debit card PIN. The OTP-based withdrawal is not available at non-SBI ATMs.
The bank has been giving tips to its customers on ways to keep their money safe. SBI recommended that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. SBI has revised its ATM withdrawal charges effective 1 July.
