Punjab National Bank (PNB) has changed rules for cash withdrawals from ATMs to make them more secure, especially for large sum withdrawals at night. These new rules are applicable from 1 December 2020.
Now PNB account holders will need One Time Password (OTP) to make cash withdrawals of Rs 10,000 and above from PNB ATMs at night. This OTP will be sent to the bank's customer's registered mobile number, making it important to carry your mobile phone with you if you are heading to an ATM after 8 PM.
PNB customers will be able to withdraw money above Rs 10,000 without OTP between 8 AM and 8 PM. To avoid unauthorised withdrawals, the public sector lender has opted for customer authentication, like the State Bank of India (SBI), that requires customers to enter OTP received on their registered numbers with making withdrawals after 8 PM from 1 December at PNB 2.0 ATMs (PNB, eOBC, eUNI).
The bank has shared also shared a 47-second video clip on Twitter explaining the steps of how OTP-cash withdrawal at ATMs works.
Watch Video| Here's how to use PNB's OTP based cash withdrawal service at ATMs with these steps! pic.twitter.com/aw9yLeDrYb— Punjab National Bank (@pnbindia) November 29, 2020
According to the video, after you enter a PNB ATM:
- Insert your debit/ATM card in the allotted slot.
- Enter details required to make regular cash withdrawals like PIN, amount, etc
- If cash amount to be withdrawn is above Rs 10,000, you will receive an OTP on your registered mobile number. You are required to enter OTP to complete the transaction.
- Collect cash.