New Delhi: Providing wider window period for customers. India’s biggest lender State Bank of India (SBI) has announced extension of time for the OTP-based cash withdrawal from ATMs.

SBI customers will now be able to make ATM withdrawal above Rs 10,000 after an OTP verification throughout the day.

The bank had allowed this facility to customers during 8 PM to 8 AM in January.

How does OTP-validated ATM transaction work?

The OTP-validated ATM transaction was introduced to minimise the number of unauthorised transactions, State Bank of India had said.

With the introduction of its OTP-based cash withdrawal facility, State Bank added another layer of security for cash withdrawals through its ATMs service.

OTP would be received on the customer”s mobile number registered with the bank. This additional factor of authentication protects State Bank card holders from unauthorized ATM cash withdrawals

Who can avail the services?

This facility will not be applicable for transactions, where a State Bank card holder withdraws cash from another bank’s ATM. It is because this functionality has not been developed in National Financial Switch (NFS), as per SBI. NFS is the largest interoperable ATM network in the country and it manages more than 95 per cent of the domestic interbank ATM transactions.

How to withdraw cash based on SBI OTP Service?

Once the cardholder enters the amount he/she wishes to withdraw, the ATM screen displays the OTP window.

The customer has to enter the OTP received on the registered mobile number to complete the transaction.


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