SBI customers alert! Worried about transaction charges? Here is how to make cash withdrawal rewarding

By: |
Published: September 20, 2019 1:47:43 PM

SBI customers have an opportunity to earn 100 reward points on cash withdrawals and that too without getting worried about shoulder surfing, card trapping and card skimming at ATMs.

State Bank of India, SBI, SBI customers, transaction charges, SBI customers alert, reward points on cash withdrawal, YONO Cash, YONO Cash Point, ATM, YONO App, card skimming, card trapping, ATM PINThe reward points on withdrawals will be available from September 1 to December 31, 2019.

With banks scheduled to revise transaction charges from October 1, account holders are a worried lot today as there is news of hefty increase in charges even on transactions at bank branches. However, the customers of State Bank of India (SBI) have something to cheer about as they have an opportunity to earn 100 reward points on cash withdrawals and that too without getting worried about shoulder surfing, card trapping and card skimming at ATMs.

SBI customers may avail the opportunity by using YONO Cash at YONO Cash Points, which are the SBI ATMs having facility of cardless cash withdrawal through the YONO app.

The cardless withdrawals would not only eliminate the risk of skimming and cloning, but the SBI customers will also earn 100 points per withdrawal made from September 1, 2019 to December 31, 2019. However, maximum two withdrawals are allowed per customer per month through YONO Cash.

The SBI expects that the customers would lap up YONO Cash facility due to its security feature and the convenience of card-less cash withdrawals as the withdrawal process is a secured transaction with 2-factor authentication, which customers can initiate by installing the YONO app and setting a six digit YONO Cash PIN for the transaction.

Once a cash withdrawal process is initiated, customers will get another six digit reference number for the transaction on their registered mobile number via SMS, which has to be used within 30 minutes along with the YONO Cash PIN, which they got during the registration process, at the nearest YONO Cash point to get the cash.

Customers having Android and iOS-powered mobile phones may access the YONO App on mobile device as well as on the web through a browser.

So, at least for two withdrawals per month, you don’t have to carry your ATM Card or memorise the PIN and don’t have to worry about card skimming, car trapping and withdrawal charges, but just to plan how to use the reward points you earn on cash withdrawals.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.