Online banking frauds have been rampant in the recent past. Fraudsters have been able to use the internet to steal valuable user data and money from users. SBI has always followed up on the reports of frauds and has taken strict measures to ensure that no user is defrauded. In continuation with this, SBI recently issued a detailed guideline on how to stay alert and protect your hard earned money. 

SBI ATM, credit card, UPI & Netbanking users have been alerted of safety guidelines to follow. These guidelines were released in the last week of April and detail the steps to follow to stay alert.

SBI ATM, credit card, UPI & Netbanking have issued safety guidelines to each user type. We share the guidelines with you in this article. 

1. SBI ATM & POS Machine User Security

ATM machines & POS machines are the most vulnerable to frauds. Miscreants use card skimmers to steal valuable information from users from ATM machines. They even meddle with merchant POS machines to steal money from users. Though most of us have reduced using debit/credit cards, there is still a huge chance of getting scammed by thieves. Here are a few simple tips to keep your ATM machine & POS machine transactions safe.

  • When using ATM machines or POS devices to conduct ATM transactions, be aware of your surroundings.
  • While entering the PIN, cover the keypad.
  • Always check the legitimacy of e-commerce websites before making any purchases.
  • Online Banking allows you to keep track of your debit card transactions.
  • Set a limit for both domestic and international card transactions at e-commerce platforms, POS, and ATMs.

2. SBI UPI User Security Tips

UPI is the most common way to access banking services these days. With the Corona pandemic being rampant in the country, consumers thronged UPI providers for their banking needs. UPI allows you to transact without the need for credit or debit cards. Even the ATM cash withdrawal has fallen by a large margin due to people preferring UPI payments for all their shopping needs. Whether online or at the merchant location, UPI has become a convenient way to make payments. Here are the safety precautions to use while transaction on UPI.

  • Keep your UPI PIN and mobile PIN separate and random.
  • Unknown UPI requests should not be responded to.
  • Suspicious requests should always be reported.
  • Always keep in mind that a PIN is only required for transferring funds, not for receiving them.
  • If any transaction has occurred without your permission, immediately disable UPI service on your account.

3. SBI Netbanking User Security Tips

SBI has one of the largest user bases for Netbanking. Customers can perform almost every single banking transaction on the platform. SBI constantly releases updates and new features to the platform to maximize data security. Yet, many users fall for scams and frauds. Most scammers rob money through the OTP (One Time Password) requisition method and steal from old age customers. SBI does send regular SMS alerts to its customers about these novel attacks. Here are a few tips to follow and protect your Netbanking account.  

  • Always check the address bar of the bank's website for "https". 'https' means that the webpage is authentic and secure. 
  • Never use open or public Wi-Fi networks to operate online banking transactions in public places.
  • When you're finished with your work, log out and close the browser without fail every time.

4. SBI Username & Password Security Tips

  • Many of us take our username and password setting for our SBI digital accounts for granted. We go for common usernames like our name or our family members' names. Even passwords are so generic that anyone could guess them. Remember, fraudsters have access to most of your personal information, and can easily guess passwords made up of your family members' names, birthdays, anniversaries, vehicle numbers, phone numbers, and so on. So never use any of these information for passwords. Follow these simple tips while setting passwords -
  • Use passwords that are both unique and complex.
  • Always remember to change your passwords.
  • Your user ID, passwords, or PIN should never be shared, stored, or written down.
  • Remember that your bank will never ask for your user ID, passwords, card number, PIN, passwords, CVV, or OTP.
  • To avoid storing user IDs and passwords, disable your device's 'Auto Save' or 'Remember' function.
  • There is an urgent need to educate consumers about the importance of using a password that is difficult to hack. 

Inspite of all the security measures, there are still many cases where hackers can gain access to your account. Users should be vigilant about this and take necessary measures to protect themselves. If you, at any point of time, fear that your account has been hacked, contact the nearest SBI branch immediately. You can also call the SBI customer care to report of any fraud or theft on your SBI account. Be it UPI, NetBanking, credit/debit card, or the ATM, check the SMS alerts and emails that are sent to you. 

FAQs SBI Alert! ATM, Credit Card, UPI and Netbanking User?

1:Why is it important to set a strong password for my SBI online banking accounts?

Your online banking accounts have to be secured with a strong password to prevent hackers from gaining access to your account. You could lose your hard earned money because of this.

2:What are the most commonly used passwords in India?

You would be surprised to know that the word 'password' is the most commonly used password in India. Next comes '123456' and 'abcdefg'.

3:What should I do if I have forgotten my password?

If you have forgotten your password, you can reset it using the 'Forgot Password' option from the login page.

4:Why does SBI require me to change my password every 3-6 months? 

Using the same password for a long time may not be a good idea. You should change your password regularly to avoid any potential security breach.

5:What should I do if I doubt a fraud or security breach of my SBI Netbanking account?

If you doubt a cyber-attack or fraud activity on your SBI Netbanking account, call the SBI Customer Care Line and block your online account immediately. You can then change the password of your Netbanking account to ensure that your online banking account is not compromised again.