YONO Cash: SBI Cardless Cash Withdraw From ATM – How To (Step-By-Step Guide) – Cardless ATMs Withdrawals with YONO Cash: YONO Cash will facilitate cardless withdrawals at over 16,500 SBI (State Bank of India), ATMs (Automatic Teller Machines) across the country.
YONO Cash is yet another step by the bank with a goal of maximising convenience and enhancing banking experience from customers which will also address the concerns of using debit cards at ATMs for cash withdrawals.
Eliminating all the risks affiliated with Debit Cards. A Feature on Yono Cash is designed that will allow the users to withdraw cash without the use of the physical debit card.
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Through YONO, the endeavour is to create a digital universe integrating entire transaction ecosystem at one platform for all State Bank of India Customers in the next two years. The launch of YONO Cash makes State Bank of India as the nation’s first bank to offer these services.
ATMs enabled for this service will also be turned as the YONO Cash Points. State Bank of India is also expecting that because of it’s a new security feature, YONO Cash will delight its customers.
YONO Cash: SBI Cardless Cash Withdraw From ATM – How To (Step-By-Step Guide)
- Instant account opening – Open digital savings account in less than 5 minutes without leaving your home and get a personalized platinum debit card, Concession on Bank service charges & Paperless
- India’s largest shopping marketplace – Exclusive discounts and offers for SBI customers across a large number of e-commerce merchants
- Banking simplified – Easy to understand interface, Simple and intuitive navigation
- Quick pay – Intelligent funds transfer with UPI enabled payments
- One view – Link and view all State Bank group relationships (Bank and all JVs) in one app
- Smart spending – Intelligent spending analysis using smart auto-tagging and categorization of the transactions
- Your friend in need – Pre-approved personal loans on the go up to Rs. 1 lakh without any documentation in 2 minutes
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Recently State Bank of India MD Arijit Basu told that “As banks, we operate in the regulatory environment that is set up by Reserve Bank and we respect that, So we give our views to RBI and after RBI decides on a particular prescription. We follow that and that is true for the February 12th circular also. Let me clarify, one or two things about the circular when we are talking of one date, it is with reference to those accounts which were already in stress.
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As on the 1st of March, no which is why some date is coming up there would be accounts which could have faced stress subsequent to that for which the resolution’s deadline is not 27th August. So, when you as that how many accounts will go to NC LT, you did not specify sector, so the previous discussion that was on the power sector, so if it is one the pass sector as I mentioned that 7-8 accounts number. But on the whole, I am not specifically talking about the power sector.”
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We don’t see any major spot in accounts being referred to NC LT because we have already done an assessment as you know we have been bringing out the stress in the system accounts classified as SMA and NPA. We have worked at the resolution and we have not waited for the 27th August deadline and we have referred many companies to NC LT. Now, I don’t see there will be any major spurt as far as SBI is concerned merely because 27th August is approaching alright.
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So on, provisioning, I think some guidance has already been given, that we have provided significant and will continue to provide the provisioning is a function of various factors like in Pass the ageing in the NPS, new NPS coming in we have given some guidance around that. So, I would not like to add as far as recoveries are concerned as the only thing I can say because I do not recall specific numbers.
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If any of the below-mentioned questions of yours are not yet cleared, we’ll update them in the next guide on ATB. So, stay connected with ALLTECHBUZZ –
- How can I contact Yono customer care? I am facing technical issues (unable to login/register) on the app/portal.
- What should I do after downloading the app?
- How do I log on to the Yono app/portal?
- What is MPIN?
- How can I link my SBI Credit Card to YONO mobile App/ web Portal?
- I have forgotten my user ID or password for my SBI Card online account. What do I do now?
- I have an SBI Credit Card but I haven’t registered it online. How can I do that now?
- I have started the linking process but have not received the OTP yet?
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- My current mobile no. is different from the one registered for SBI Credit Card. How can I change it?
- How to change my registered mobile number with SBI credit cards?
- How can I change my Mailing/Non-Mailing Address?
- How do I make my SBI Credit Card payment using YONO?
- I have lost my Credit Card, what steps do I need to take?
- How can I raise a transaction dispute?
- What is the time frame to report Credit Card Transaction Dispute?
- What are the Fees applicable on my Credit Card?
- How do I change transaction PIN for Credit Card?
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He also added that “In a bid to launch today ATM withdrawals without the usage of the debit card, you know, cash is available on the multi-channel digital banking platform of SBI Paul, do you know has been a huge success in last one year.
Since it’s launch, it has seen 18 million downloads and 7 million active users for banking financial planning, as well as online shipping and one more feature in its cap, has been added today.
We’re in the customers of SBI will be able to withdraw cash from ATMs without the usage of the Debit Card. The transaction is done on the owner platform by cash PIN which is set by the customer himself or herself along with the transaction number which is generated by the YONO Platform using these two, the clients will be able to go to any one of the sixteen thousand five hundred SBI ATMs which are enabled for this.
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Which are called Cash Point and draw enter the amount as well as enter the transaction reference number and the cash pin and withdraw cash? This has been done principally to help customers avoids any frauds using their debit cards which are today happening in many places through cloning.
And, as one of the security measures, we would like to help the clients, draw cash, without requiring to have their card. This will revolutionise the way in which cash is being withdrawn today.
SBI in itself has changed the way in which banking services are being consumed by the clients. And, I think this is the one more step by State Bank of India in making the transactions more safe, comfortable and convenient for our clients.”
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YONO Cash is undoubtedly one of the most remarkable and historical services launched in the past of Banking. Swaminathan of SBI Hyderabad Circle said in a press release report that now anyone can withdraw money without ATM Cards at YONO Cashpoint.
While these services are only available for SBI Account holders. Hopefully, with the help of this guide, all your questions related to the topic that is YONO Cash: SBI Cardless Cash Withdraw From ATM – How To (Step-By-Step Guide) have been cleared. But, still, if you’re having any doubt regarding the same, please don’t forget to ask in the comment box below.
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