Money Withdrawal: Is it necessary to press the cancel button after withdrawing cash from the ATM? Know the answer!

Often people press the cancel button after withdrawing money from the ATM. Almost everyone including you and me clicks on the cancel button after making a withdrawal. It has become our normal habit. If you do not do this then your money is not safe or you feel that the transaction is incomplete. The important thing is that after clicking cancel, you realize that you have made a safe withdrawal. This means after this we are thinking that no one can withdraw money without entering the password.

Two years ago a post related to the cancel button went viral on social media. It advised pressing the cancel button first, not later. It says if you go to withdraw money from an ATM, press the cancel button twice before inserting the card. Also said that if someone has set a password to steal it, it will be canceled. This post went viral as an RBI notification.

The government had to clarify.

This post spread like the wind. After this, the government also had to give clarification on this. PIB fact-checked the post and found the post to be fake. PIB wrote on Twitter, 'A fake post being run in the name of RBI claims that password theft can be avoided by pressing the cancel button twice before making a transaction at an ATM. But this is a false statement and it is not issued by RBI. RBI has further mentioned 2 ways to secure the transaction. First- do your transaction with complete privacy and second don't write the pin code on the card.

ATM Deletes Information

Any ATM deletes all information about the card after the transaction is complete. This means that even if you do not click on the Cancel button, the information will not be saved there. However, some ATMs ask you to continue with the transaction. Must cancel it. Also, you do not need to press the cancel button once the transaction is complete and the home screen reappears on the machine.