SBI The first bank with Cardless Cash Withdrawal

SBI

In India, SBI becomes the first bank with cardless cash withdrawal without the use of atm cards.

SBI presenting this under the influence of there app called –YONO

Smaller cities are driving credit card growth of some of the large banks, with cardholders outside the top 10 cities accounting for 40-45% of spending. As per the Banking Codes & Standards Board of
India (BCSBI) guidelines, at least 30 days’ notice has to be given to customers for any change in terms and conditions or charges. SBI has directed all its branches to display the message on notice boards. SBI director PK Gupta said that one can withdraw almost 20000 rupees a day from this.

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The following instructions should be followed before using the YONO app –

  1. At first, the users should activate Net banking on their SBI account and register there number.
  2. After this, the users have to Download YONO SBI app from play store and respective apple store.
  3. After downloading the YONO app one should have to fill all their details on this app.
  4. For withdraw cash, one should have to open the YONO app and place a request for cash withdrawal.
  5. After this, a 6 digit OTP is sent on the registered number and also one should have the OTP before entering the ATM.
  6. The OTP is valid only up to 30 minutes.
  7. This service is only available to SBI atm and respective YONO cash points.
  8. A cash withdrawal message is sent to the registered number.
  9. One can apply almost 2 withdrawal from this app.
  10. The account holders can withdraw 10000 rupees from one atm.

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