SBI Introduces Yono App to allow cardless withdrawals

In the place of regular Plastic Cards, State Bank of India (SBI) has enabled cardless ATM withdrawals through its mobile application Yono.The bank is also facilitating payments at point of sale (PoS) terminals using the application.

SBI lets you Bank, Shop,Travel,Pay Bills,Recharge,Invest, avail IRCTC ticket booking, use UPI to transfer money, book movie tickets. With SBI YONO, convenience has a new name.

Launching the Yono Cash service in Mumbai on Friday, SBI chairman Rajnish Kumar said that the cardless withdrawal will currently be available at 16,500 SBI ATMs and would eventually be extended to all 60,000 ATMs of the bank. The service enables the user to generate a dynamic code using the Yono app, which can be used within 30 minutes to withdraw money from any SBI ATM.

"This facility can be used by customers to send money. Usually, customers are asked not to share their PIN number. But in this case, the PIN has only one-time use," said Kumar on the report. Customers can start the cash withdrawal process on the Yono app and set a six-digit cash pin for the transaction. They will also get a six-digit reference number via SMS. The cash withdrawal must be completed within half an hour using both PINs and the reference number received.

"The initiative will also address the concern of using debit card at ATMs for cash withdrawals by eliminating possible risks associated with it. Our ultimate objective is to do away with plastic," added Kumar.

The YONO SBI best-in-class features include : 


• India’s largest shopping marketplace – Be it buying your groceries, the latest electronics, booking your flight/train tickets or your next vacation, YONO SBI has you covered. Exclusive discounts and offers for SBI customers across merchants who offer shopping, vacation bookings, flight and bus ticket bookings, train ticket bookings through IRCTC, food delivery and much more

• Banking simplified – Perform basic banking transactions such as checking your balance, creating a fixed deposit, adding beneficiary etc. with our easy to use interface
• Quick pay - Immediate transfer to a newly added beneficiary up to Rs. 10,000/-

• One view - Link and view your relationships with all State Bank entities (Credit Cards, Life Insurance, General Insurance, Travel Insurance, Accident Insurance, SIP, Mutual Funds or investments) in one app

• Smart spending – Get an overview of your expenditure with our Intelligent spend analysis, which automatically tags and categorises your transactions

• Your friend in need – Get Pre-approved personal loans on the go within 2 minutes, with no documentation up to Rs. 5 Lac

• Liquidity on the go – Use this one click facility to avail overdraft against Fixed Deposit

• Live your dreams – Use our goal based deposit product to fulfil your dreams through regular savings

• Experience convenience: Request Cheque Books, ATM Cards/Debit Cards or use the emergency services to change ATM PIN, block ATM cards/Debit cards or stop cheques, through YONO SBI

What YONO SBI offers you

YONO SBI, SBI’s latest mobile banking offering is an extension of our trusted banking legacy which gave India secure digital products such as SBI Anywhere and SBI Net Banking. YONO SBI puts India’s largest range of products and services at your fingertips. YONO SBI lets you bank digitally, invest, shop (be it groceries or from the latest fashion trends!), book movie tickets, vacations, flights and IRCTC train tickets with one single app.

YONO is supported on Android 5.0 and above.