Explanations:YONO is a mobile banking application provided by the State Bank of India (SBI) that allows users to perform various banking transactions, including cash withdrawals from ATMs. The maximum withdrawal amount per transaction through YONO cash from an ATM is a specific limit set by the bank to ensure security and manage cash flow effectively.
The maximum withdrawal limit through YONO cash from an ATM is 20,000 INR per transaction. This limit is set by SBI to balance the need for convenient access to cash with the need to prevent fraud and manage the cash reserves in ATMs. It is important to note that this limit is specific to YONO cash and may differ from the limits set by other banks or financial institutions for their mobile banking applications.
Understanding the maximum withdrawal limit is crucial for users of YONO cash to plan their transactions effectively. If a user needs to withdraw a larger amount, they can perform multiple transactions, each up to the maximum limit of 20,000 INR. However, it is important to be aware of the daily withdrawal limit as well, which may be different and is also set by the bank.
It is also worth noting that the withdrawal limit can be subject to change based on the bank's policies and regulations. Therefore, it is advisable for users to check the latest information from SBI or the YONO app for any updates or changes to the withdrawal limits.
In summary, the maximum withdrawal amount through YONO cash from an ATM per transaction is 20,000 INR, as set by the State Bank of India. This limit is designed to ensure security and manage cash flow effectively, and users should plan their transactions accordingly.