State Bank of India has launched the system of access to money via ATM without usage of ATM card. State Bank of India customers can now take money from ATMs without using of cards. It was already announced that smart ATM cards without chips will become inactive by March, and while most of the people were in frantic rush to get card with chip, SBI has made a huge move by launching card less cash access.
After SBI Yono digital banking app, now using yono now customers can access money with Yono cash module.
Yono cash has two factor authentications using which skimming or phishing can be avoided, and this was launched across 16500 ATMs. Using yono cash a six digits customer ID must be created and then link with mobile number, and with OTP one can create yono cash account. With this 6 digit password one can get cash without using ATM card.
