What is the consequence of not providing mobile numbers to the bank?a)...
According to the guidelines, banks may not offer the facility of electronic transactions, other than ATM cash withdrawals, to customers who do not provide mobile numbers to the bank.
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What is the consequence of not providing mobile numbers to the bank?a)...
Consequence of not providing mobile numbers to the bank:
Customers may not be able to avail of the facility of electronic transactions other than ATM cash withdrawals:
- Electronic transactions such as online banking, mobile banking, and UPI transactions require mobile numbers for authentication and security purposes.
- Without providing a mobile number to the bank, customers may not be able to access these electronic transaction facilities, limiting their banking options to only ATM cash withdrawals.
Explanation:
Providing a mobile number to the bank is crucial for customers to access various electronic banking services. Without a registered mobile number, customers may not be able to avail of online banking, mobile banking, UPI transactions, and other electronic transaction facilities. This limitation can hinder the convenience and efficiency of banking for customers, restricting them to only basic services like ATM cash withdrawals.
Therefore, it is important for customers to provide their mobile numbers to the bank to fully utilize the range of electronic banking services available to them.