Planning to surrender SBI debit card? State Bank of India ATM users must know this

SBI has come up with the various facilities where an SBI debit care user can execute card-less cash withdrawal from the SBI ATMs.

SBI debit cardholder must remember that the ATM card is not just used for the cash withdrawal only. It can be used for online payments also. Photo: Reuters

SBI alert: Amid rising fears of online debit or credit card frauds, especially the card cloning, the State Bank of India (SBI) has come up with the various facilities where an SBI debit care user can execute card-less cash withdrawal from the SBI ATMs. This could become easier after the launch of SBI Yono Card. In such a scenario, an SBI customer might wonder as to why he or she is holding an SBI debit card when they can withdraw cash without using their SBI debit card. For such customers, there are two strong reasons that can force an SBI debit cardholder of thinking against dumping or surrendering the SBI ATM card.

First, cash withdrawal with the help of SBI Yono app is currently limited. If you want to rely solely on card-less cash withdrawal facility through YONO platform, you should know that cash can be collected only at select ATMs (YONO Cash Points -YCP). "The account holder can withdraw money from select State Bank ATMs which are enabled for ‘YONO Cash’ functionality (YCPs)," SBI said in response to a query on Quora few months ago. Second, the use of ATM cards is your discretion. SBI says, "Customers may surrender their ATM cards as the usage of the same is their individual discretion."

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SBI debit cardholder muste remember that the ATM card is not just used for the cash withdrawal only. It can also be used at POS terminals and for other online or difital payments.

Here is step by step guide on how to withdraw cash with SBI Yono platform:

Step 1: Login to Yono app/portal. Choose YONO Cash option from Quick links or under YONO Pay. You will be redirected to YONO Cash landing page.

Step 2: On YONO Cash landing page, you can find the nearest YONO Cash Points by clicking on the ‘Nearest YONO cash Points’.

Step 3: For cash withdrawal, selects ‘Request YONO Cash’. This will take you to a new page where you need to first select the account to be debited. Enter the amount to be withdrawn. You can withdraw a maximum amount of Rs.10,000 per transaction and maximum amount of Rs.20,000/- per account, per day from ATM.

Step 4: Select ATM as the delivery channel. On the next page, you need to create YONO Cash PIN for the transaction. You can see this PIN only on the screen of your device at the time of the creation. It won't be shared through other means with you.

Step 5: 'Review’ your transaction details, and after agreeing on Terms & Conditions, click on ‘Confirm’ button.

Step 6: Find the nearest YONO Cash Points to withdraw the cash by clicking on the ‘Nearest YONO cash Points’. At the YONO Cash enabled State Bank ATM /Recyclers (YCP), you can withdraw cash with the help of the PIN.

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