PNB ATM Alert: To stop the rising ATM fraud, Punjab National Bank (PNB) has alerted its customers and has taken a big step. If your account is in PNB, then read this news carefully, because it is directly related to your transaction. PNB has banned cash withdrawal from Non-EMV ATMs.
Cash will not be withdrawn from these ATMs from February 1: PNB
Punjab National Bank (PNB) customers will not be able to deal with non-EMV ATM machines from February 1. That is, you will not be able to remove cache from non-EVM machines. PNB has given information about this on its official Twitter handle. This restriction will apply to both financial and non-financial transactions. That is, Punjab National Bank customers will not be able to go to non-EMV ATMs, withdraw cash nor do non-financial work like checking the balance.
Also Read: Fixed Deposit: Will the bank get more return from FD in PFC retail bonds?
Steps to protect against ATM fraud: PNB
PNB has tweeted that the bank is taking this step to protect its customers from fraud through ATM such as card cloning. Following the RBI directive, all banks in the country have already banned transactions with only Magnetic Strip debit cards. They are replaced by cards with EMV chips, which are more secure.
What are non-EMV ATMs
Non-EMV ATMs are machines that do not hold the debit card until the transaction is completed. After putting the card in these machines, it can be withdrawn before the transaction is completed after it is read. These machines read data from the debit card magstripe (Magnetic Strip). Whereas in EMV ATM data is read from the chip on the debit card. After inserting the card in such machines, it cannot be withdrawn until the transaction is done. Not complete
Recently given this facility
Let us know recently that Punjab National Bank has given its customers the facility to turn on / off their ATM debit card through PNBOne app. If you do not use your card, you can turn it off. By doing this, your money kept in your bank account will be safe.
