OTP Mandatory for Cash Withdrawal at PNB from 1st December 2020
PNB has made cash withdrawals at ATMs more secure with One-time Password facility from 1st December 2020.
To make cash withdrawals more secure for its customers, Punjab National Bank (PNB) has now made it mandatory for customers to enter a One-time Password (OTP) at ATMs if they want to withdraw Rs. 10,000 or more from their account.
State Bank of India (SBI) was the first bank to start this OTP based cash withdrawals.
PNB launched this feature on 1st December 2020. Please note that the same feature is applicable on ATM withdrawals from accounts of banks that recently merged with Punjab National Bank, viz. United Bank of India and Oriental Bank of Commerce.
As such from now on, if you are going to take out Rs. 10,000 or more through an ATM from your PNB account, then it would be a good idea to carry your mobile phone with you.