SBI launches cardless initiative 'YONO'

Guwahati, March 15, 2019:

The customers of State Bank of India have some goodies in the stock. How easy life would be when you don’t have to carry even your cards for cash transactions?

That wish has now become a reality with the new development by the State Bank of India (SBI) “You Only Need One“(YONO), a cardless ATM withdrawal service.

With a total of 16,500 SBI ATM’s across the country, the launch of YONO makes SBI the first bank to offer this service.

The customers can initiate the cash withdrawal process on the YONO app and set a six-digit YONO cash pin for the transaction. They will also get a six-digit reference number for the transactions 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.

“YONO cash is yet another step by the bank towards our goal of maximizing convenience and enhancing banking experiencing for our customers”, Shri Sunil Kumar Tandon, CGM SBI North Eastern Circle.

Further, he said, “ A total of only 20,000 can be withdrawn through this YONO app. And only Rs10,000 can be withdrawn at a time.”