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  4. Attention PNB customers! ATM cash withdrawal rules changing from today. Check details

Attention PNB customers! ATM cash withdrawal rules changing from today. Check details

PNB has already informed its customers that it will ban both financial and non-financial transactions from non-EMV ATM machines from February 1.

India TV Business Desk Edited by: India TV Business Desk New Delhi Updated on: February 01, 2021 10:32 IST
Attention PNB customers! ATM cash withdrawal rules changing from today. Check details
Image Source : PTI

Attention PNB customers! ATM cash withdrawal rules changing from today. Check details

Are you Punjab National Bank account holder? Then here is an important update for you. The Punjab National Bank (PNB) has taken a major step to chek fraud. According to report the bank will not allow its customers to withdraw money from non-EMV automated teller machines (ATMs) from today i.e February 1, 2021.

PNB has already informed its customers that it will ban both financial and non-financial transactions from non-EMV ATM machines from February 1.

"To protect our esteemed customers from fraudulent ATM activities, PNB will be restricting transactions(financial & non-financial) from Non-EMV ATM machines from 01.02.2021. Go Digital, Stay Safe!," PNB said in an official announcement on the micro-blogging site.

What are non-EMV ATMs?

Non-EMV ATMs are those in which ATM machines do not hold debit cards during transactions. In these machines, the data card is read through a magnetic strip. Here the card is also locked for a few seconds.

PNB OTP services for cash withdrawal in December 2020

In December 2020, the bank had changed rules for withdrawing cash from ATMs. PNB account holders get a One Time Password (OTP) for cash withdrawal of ₹10,000 and above from ATMs between 8 pm to 8 am. Without OTP, cash withdrawals are not possible for PNB account holders. With the introduction of its OTP-based cash withdrawal facility, PNB ATMs have added another layer of security for cash withdrawals.

In December 2020, the bank updated the rules regulating the withdrawal of money from ATMs. For cash withdrawals of Rs.10, 000 and above from ATMs between 8 pm and 8 am, PNB account holders obtain a One Time Password (OTP). For PNB account holders, cash withdrawals are not possible without OTP. With the launch of its cash withdrawal facility based on OTP, PNB ATMs have added an extra layer of cash withdrawal security.

In December 2020, PNB had updated the ATM cash withdrawal rules. PNB account holders obtain a One Time Password (OTP), for cash withdrawals of Rs.10, 000 and above from ATMs between 8 pm and 8 am. Without OTP, PNB account holders will not be able to withdraw cash. With the launch of its OTP-based cash withdrawal facility, PNB ATMs have added another layer of security for cash withdrawals.

How to withdraw cash at PNB ATMs through OTP-based system

In order to withdraw cash at PNB ATMs, you will need an OTP

OTP will be sent to your registered mobile number.

OTP is a system-generated numeric string of characters that authenticates the user for a single transaction.

Check-in at PNB ATM.

Insert your debit/ATM card.

Enter the necessary details.

If you are withdrawing more than ₹10000 at a time, you will get an OTP on your registered mobile number.

Enter the OTP that you have received on your mobile number.

After entering OTP, you will get cash.

Also Read: RBI likely to maintain status quo on interest rate, say experts

 

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