SBI Introduces New SMS Service To Curb ATM Frauds

In light of rising ATM-related banking frauds, the State Bank of India (SBI) has introduced a new feature that will help alert its customers and improve the safety of their accounts. Now every time an SBI bank account holder's balance has been checked or a mini statement has been produced at an ATM, the public-sector bank will alert the account holder by sending an SMS to his/her registered number.

"Now every time we receive a request for #BalanceEnquiry or #MiniStatement via ATMs, we will alert our customers by sending an SMS so that they can immediately block their #DebitCard if the transaction is not initiated by them," SBI said in a tweet.

"Do not ignore SMS Alerts regarding balance enquiry or mini-statement when the request is not initiated by you. It could be a scammer's attempt to check your bank account for the money. Immediately notify and request your bank to freeze your card," the bank added.

SBI has a cardless cash withdrawal facility that was introduced this year to help customers make contactless cash withdrawals with the help of its mobile app YONO and a one-time password. The bank has been taking measures to make ATM transactions more secure. An OTP is also required along with debit card PIN when withdrawals of over Rs 10,000 have to be made between 8 pm and 8 am.