Ban on the usage of ATM for cash withdrawals! Customers shocked!
Posted on: 03/Feb/2021 1:26:33 PM
With the main objective of preventing maloperations, Indias 2nd Largest Public Sector Bank, Punjab National Bank PNB), has imposed certain restrictions for its customers on cash withdrawal from its ATMs!
As per this, it has been announced that Punjab National Bank customers cannot withdraw cash from the Non-EMV ATMs from 1st February. Apart from the ban on withdrawal of cash, certain other facilities such as checking the balance have also been withdrawn!
Punjab National Bank has announced that this measure has been taken to protect its customers from various maloperations. However, PNB customers can withdraw cash from EMV ATMs.
About Non-EMV ATM
As per practice, there is no need to keep the ATM card on the ATM while withdrawing cash. In other words, it is sufficient to insert the ATM card once in the sot and then take it out while withdrawing cash. This type of ATM is known as Non-EMV ATMs.
About EMV ATMs
While withdrawing cash from the ATM, there is a need to keep the ATM card inserted. This necessitates that the card should remain inserted until cash is withdrawn. This type of ATM is known as EMV ATM.
