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Now, withdraw cash from SBI ATMs without card

Now, withdraw cash from SBI ATMs without card

By Sagar
Mar 20, 2019
06:18 pm

What's the story

ATM transaction without an ATM card- sounds unreal, right? Well, turns out that State Bank of India (SBI) has come up with a similar plan. The largest bank in the country now allows its customers to withdraw cash from its ATMs without their cards. The service is being offered through its Internet banking app called YONO. Here's all you need to know about it.

Information

About the YONO app

YONO (short for You Only Need One) is SBI's official Internet banking app. The app is available for download on Android as well as iOS platforms. With the launch of the new service, SBI has become the first Indian bank to allow cardless ATM transactions.

Procedure

How to withdraw cash from SBI ATMs using Yono app

To start using the service, firstly download the Yono SBI mobile app on your smartphone. Log in to your Internet banking account using the app. Place a cash withdrawal request in the app. Correspondingly, a 6-digit code will be sent on your registered mobile number. Use this code at the ATM machine to make the withdrawal. Finally, a cash-withdrawal SMS alert will be sent to you.

FYI

Key things to know about the service

One must have Internet banking activated on their SBI bank account in order to use the service. The 6-digit code used for transaction is valid for only 30 minutes. The service is available only at SBI ATM outlets and Yono cash points. A maximum of two withdrawals in a day, with an upper-limit of Rs. 10,000 per transaction, is allowed using the Yono app.

Information

Benefits of cardless ATM transactions

The cardless ATM service from SBI can help address the rising issue of bank frauds due to theft or loss of ATM cards. In addition, the new service is expected to curb ATM card skimming/cloning frauds.

Features

Yono app is the one-stop online-banking solution for SBI accountholders

Using the app, one can check their balance, create a fixed-deposit, add a beneficiary etc. The app also offers a personalized and comprehensive overview of the user's expenditure. You can also request cheque books, ATM/Debit cards, or change ATM pin using the app. Emergency services such as blocking of lost/stolen card, and cheque termination are also available. Further, SBI users can enjoy exclusive discount-offers.