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SBI has asked all banks to add their mobile numbers with bank accounts till November 30, to continue the internet banking facility.

SBI
Via:livemint.com

New Delhi: If you are the State Bank of India (SBI) account holder, then you should be aware of some upcoming changes.

There are at least two recent updates that you should be aware of. First of all, the bank has asked all customers to add their mobile numbers with bank accounts till November 30 to continue the use of the internet banking facility.

Second, SBI has asked all customers to get their ATM-cum-debit card with the Magnetic stripe with EMV chip before December 31.

If the account holder’s mobile number is not registered with the bank, SBI will block access to its internet banking facility.

If you use SBI’s internet or mobile banking facility, you will have to register your mobile number with the bank by the end of this month (November 30, 2018), if not already done.

If your mobile number is not registered with the bank, then SBI will block or deactivate access to its internet banking facility from 1 December.

“According to the RBI advisor, it is mandatory to register your mobile number to avail the internet banking services. SBI said on its internet banking website,” From 01.12.2018, your internet banking access will be deactivated/blocked, You can register your mobile number by 30.11.2018. ”

Upgrade to EMV Chip Debit Card by December 31

State Bank of India has asked its customers to change their Magstripe ATM-cum-Debit Card by the end of this year (December 31, 2018). SBI will issue new EMV Chip Debit Card to its customers for free.

For card replacement, SBI ATM-cum-Debit Cardholder can go to their home branch or apply online through internet banking. “According to RBI guidelines, you will have to convert your Magistrip Debit Card into EMV Chip Debit Card by the end of 2018.

The conversion process is completely secure and there is no charge.”

The Reserve Bank of India had earlier asked banks to release only chip-based and PIN-enabled debit and credit cards in order to avoid fraud from banks.

SBI makes it easy to deposit Form 15G, Form 15H for its customers

Ideally, at the beginning of the new financial year Form, 15G or Form 15H should be deposited. From this financial year, if interest income is less than Rs 50,000 then TDS will not be charged from senior citizens.

If an SBI account holder has internet banking facility, SBI also allows for submission of Form 15G or Form 15H online. SBI account holders can log in their accounts online and submit forms under e-services.

In another recent communication, SBI has asked the account holders to register their mobile numbers with the bank till December 1, 2018, thereby blocking the bank access to their net banking accounts.

Read also: SBI zero balance savings account for children: 10 things to know

Meanwhile, in another customer-friendly rule, SBI has removed the limit on the amount deposited in the non-home branch. Earlier, the limit was Rs 25,000.

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