To maximise the convenience and enhancement of banking experience for the customers, the State Bank of India introduced integrated Omni-channel banking and lifestyle platform “YONO Cash” for the card less withdrawal of cash over 16,500 SBI ATMs across the country.
SBI is the first bank to offer such services in the industry that enabled its ATMs for this service and termed them as YONO cash point. The customers can initiate the cash withdrawal process on the YONO app and has set a six digit YONO cash pin for the transaction also a six digit OTP will be sent to the registered mobile number through SMS.
The cash withdrawal has to be completed within the next 30 minutes at the nearest YONO cash point using both PIN and the reference number received. “The initiative will address the corner of using debit cards at the ATMs for cash withdrawals by eliminating the possible risk associated with it. The feature on YONO is designed to help its users withdraw cash without a debit card,” said the SBI Chairman Rajnish Kumar.