Want to receive OTP for every transaction in your SBI bank account? Here’s the process

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Updated: November 11, 2019 9:35:46 PM

SBI high-security password: In addition to SMS, account holders can receive financial and non-financial transaction-related authentication details on their registered email address.

 high security password, OTP, SBI, State Bank of India account, state bank of India otp not coming, sbi safe online banking , sbi otp not received, how to set password, second-factor passwordLet us see how to set high-security password (OTP) from the internet banking website of SBI.

If you want an alert on your mobile phone or through email, every time there is a transaction on your SBI Online account, you need to set a high-security password (OTP) for your State Bank of India account. For each transaction, you will receive an OTP to authenticate the same. The log-in password is one way to keep the account safe but OTP acts as the ‘second-factor password’ to ensure higher safety and security of one’s bank account.

At times, if the SBI OTP through SMS is not received on your phone, you may have to reset the high-security password options by logging on to the Online SBI Website. Also, in addition to SMS, SBI account holders can receive financial and non-financial transaction-related authentication details on their registered email address.

How to set high-security password in SBI

Let us see how to set high-security password (OTP) from the internet banking website of SBI:

  • Using your username and log-in password, access the SBI’s online website.
  • Once logged, click on ‘My accounts & profile’
  • Then, click on ‘High-Security Password’ link and using the Profile Password, go to the next page.
  • On the next page, you will be shown a few security options as below, which you will have to set as per your choice.

Authentication 1: When you do transactions that include Inter and Intra-Bank beneficiary payments, Credit card (VISA) beneficiary, IMPS and International Funds Transfer transactions.

If you select ‘Yes’, you will receive the OTP for each of the transactions. If you select ‘No’ then you will not receive the OTP for transactions up to Rs 10,000 done cumulatively during a day.

Ideally, set it as YES to receive an alert on every transaction.

Authentication 2: When you do transactions that include transactions at Merchant establishments.

If ‘Yes’ is selected, you will receive a One Time Password (OTP) for each merchant transaction. If you select ‘No’ then you will not receive the OTP for transactions up to Rs 5,000 done cumulatively during a day.

Ideally, set it as YES to receive an alert on every transaction.

Authentication 3: What mode of Authentication through OTP would you prefer (i) SMS (ii) SMS and email (iii) State Bank Secure OTP (Mobile App).

Ideally, set it as SMS and Email to receive an alert on every transaction.

The next time when you transact online or offline or even during transfer funds, there will be an alert on your phone and email accordingly. High-security password using the OTP method will help you to keep a tab on your bank account transactions. Any unauthorised transaction will be known in quick time thus avoiding any financial loss.

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