PNB: Rules for withdrawing cash from ATM, know what is the new way

 

PNB: Rules for withdrawing cash from ATM, know what is the new way



In view of the increasing cases of ATM fraud, after SBI, now PNB has also implemented OTP based cash withdrawal system. These rules will come into effect from 1 December. So this time when you go to the ATM, keep the mobile with you.

This news is very important for customers of Punjab National Bank. PNB is going to change the methods of withdrawing cash from ATM from December 1.

PNB CHANGED THE WAY TO WITHDRAW MONEY FROM ATM

Nowadays, in view of the increasing ATM frauds, PNB has implemented the OTP system to make it more secure to withdraw money from ATMs in the interest of its customers, which will start from 1 December 2021. That is, upon withdrawing cash from ATM, now the customer will also enter a one time password (OTP) in addition to his PIN, which will be sent to the customer by the bank

CASH FROM ATM WILL BE COLLECTED THROUGH OTP

Punjab National Bank (PNB) is going to launch PNB 2.0 (PNB, eOBC, eUNI) One Time Password (OTP) based Cash Withdrawal facility from 1st December. PNB has told through its tweet that between 1 pm and 8 am from December 1, cash withdrawal 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 an amount of more than Rs 10,000 at night. So customers take their registered mobile with them. PNB has taken this step in view of the increasing cases of ATM fraud.

ONLY APPLICABLE TO PNB 2.0 ATM

Please inform you that United Bank of India and Oriental Bank of Commerce (OBC) have been merged in PNB. Which has come into existence since 1 April 2020. The entity that has been formed after this is named PNB 2.0.

PNB has stated in its tweet that OTP based cash withdrawal will be applicable only at PNB 2.0 ATM. That is, OTP based cash withdrawal facility will not be applicable for withdrawing money from PNB debit / ATM card from other bank ATMs.

HOW WILL THIS SYSTEM WORK 

When you take your debit card and go to PNB ATM and insert the PIN to withdraw cash, the bank will send an OTP to your registered mobile number, which will be used only in one time transaction, if you do another transaction then another OTP will come to your mobile. This new system is only to prevent ATM frauds. This will not affect the cache withdrawal process. 

SBI HAS ALREADY IMPLEMENTED

SBI has already implemented this facility for its customers. SBI had implemented OTP based cash withdrawal for transactions of more than Rs 10,000 between 1 am and 8 am from 1 January 2020. Later in September 2020, SBI implemented the OPT system for 24 hours and seven days for cash withdrawal of 10000 rupees or more. 



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