The largest lender State Bank of India (SBI) has taken a series of measures when it comes to bank ATM transactions to ensure that its customers do not lose their money to fraud. In a latest move it has been revealed that, SBI has halved daily ATM withdrawal limit up to Rs 20,000 from previous Rs 40,000.
The reason cited by the bank to do this is to stop ATM frauds. Not only, this SBI also recently asked its customers to apply for a new SBI EMV Chip Debit Card. The bank has given stringent rule to apply for EMV Chip Card through internet banking or by approaching their home Branch, or else the current card will be blocked. Furthermore, the SBI has been releasing advertisement highlighting dos and don’ts in case of bank ATM transactions.
SBI has the largest network in the country with more than 43,000 ATMs in India. Apart from any cards issued by SBI, the bank also accepts other banks cards displaying Maestro, MasterCard, Cirrus, VISA and VISA Electron logos.
At SBI, the denomination of 100, 200, 500, 1000, 2000, 3000, 5000, 10,000 are available.
However, considering SBI is concerned over fraud arising at ATMs, the bank has laid out 12 golden mantras or rules for its customers to ensure they don”t get the shock of their lives about losing money. These 12 mantras are listed below:
1. Please sign on the reverse of the card immediately on receipt.
2. Change your ATM PIN regularly.
3. Never keep the PIN with the debit card or write on it. Always memorize it.
4. Do not provide the ATM card and PIN details to anyone, including Bank/IBA/RBI/Govt. agency/family/friends, etc. Bank or any other institution will never ask for this information.
5. Do not let strangers come in to the ATM room or take their help to complete the transactions.
6. Hide the keypad while keying in your PIN at ATM/POS terminals.
7. Do not throw your transaction slip in the ATM room as it contains your account information.
8. Always wait till the ATM returns to the idle mode and the green light is blinking.
9. Insist on swiping your card in your presence in hotels/shops/malls, etc.
10. Never swipe your card at POS machines kept at unknown temporary stalls.
11. Block and destroy your old card, when you get a new one. Register your mobile number at the Branch to get SMS alerts for all transactions
12. Hotlist your card immediately on losing it by calling 1800 425 3800 or 1800 11 22 11.