Thursday, January 6, 2011

One transaction per PIN entry at ATM

Next time you go to an auto mated teller machine (ATM), of any bank, be ready to reenter your personal identification number (PIN) afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details. In order to check misuse of ATM cards by unauthorized people, the Reserve Bank of India (RBI) has asked banks to allow only one transaction at ATM machines for one entry of PIN, which acts like a password for ATM transactions). Previously, customers were allowed to conduct multiple transactions through the ATM by punching in their PIN only once in a single session.

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