If you are Canara Bank customer, it is advisable to keep your phone handy while doing an ATM cash withdrawals.
Public sector lender Canara Bank says it has launched India’s first OTP facility for ATM withdrawals. The OTP facility only applicable when the customer withdraws ₹10,000 in a day.
“Now your ATM cash withdrawals in Canara Bank ATMs get safer and more secured with OTP facility on cash withdrawals above ₹10,000 in a day. This additional factor of authentication protects from unauthorized ATM cash withdrawals for our card holders", said the bank in a tweet.
The OTP facility will also help the user from unauthorized ATM cash transactions.
Recently, SBI's Deputy General Manager Suresh Nayar, SBI is also planning to introduce the OTP facility while ATM transaction. As per Nayar, the facility will reduce ATM frauds and will help to protect customer's money.
