SBI introduces YONO Cash

SBI, the first bank to offer such service in the industry, enabled its ATMs for this service and termed them as YONO Cash Point.

By Author  |  Published: 16th Mar 2019  1:07 am
SBI
Senior SBI offcials launching YONO Cash feature at an ATM in the city on Friday.

Hyderabad: To maximise convenience and enhance banking experience for customers, State Bank of India introduced integrated omni-channel banking and lifestyle platform ‘YONO Cash’ for cardless withdrawal of cash at over 16,500 SBI ATMs across the country

SBI, the first bank to offer such service in the industry, enabled its ATMs for this service and termed them as YONO Cash Point.

Customers can initiate the cash withdrawal process on the YONO app and set a six-digit YONO Cash pin for the transaction. A six-digit reference number will be received for the transaction on their registered mobile number via 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 release said.

Speaking on the launch, SBI Chairman Rajnish Kumar said the initiative would address the concern of using debit cards at the ATMs for cash withdrawals by eliminating possible risk associated with it. This feature on YONO is designed to help its users withdraw cash without a debit card, he said.