Run out of money in your wallet and you don't have your ATM card with you? You can still withdraw money. State Bank of India has introduced a new service using which customer will be able to withdraw cash from ATMs without physically carrying a debit or credit card.
SBI, India's largest bank on Friday launched the, YONO Cash, facilitating cardless withdrawal of cash at over 16,500 SBI ATMs across the country.
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Launching the Yono Cash service in Mumbai on Friday, SBI chairman Mr. Rajnish Kumar said the facility would eventually be extended to all 60,000 ATMs of the bank. This is how YONO Cash works.
SBI customers should have YONO app installed on their samrtphons from where the cash withdrawal can be initiated.
To withdraw cash from SBI ATMs or YONO Cash points,the user will have to set a 6-digit YONO PIN.
Ones the customer makes a cash withdrawal request a 6-digit code will be sent to the user's phone via SMS, which will then have to be entered into a YONO Cash Point.
The code is valid only for 30 minutes and the customer should withdraw money from any SBI ATM within this time.
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