Safety Ring
Due to increase in number of cyber frauds, a mechanism of “Safety Ring” is introduced in Internet Banking System/ Mobile Banking System (IBS/ MBS) to provide an additional safety layer wherein in case of unauthorized access by fraudsters, the loss can be minimized.
Safety Ring is an optional additional feature to set a daily transaction limit w.r.t term deposits (TD) on online closure or availing overdraft facility on TD’s up to the set limit amount. The limit set by the customer shall be the consolidated digital channels limit up to which the customer can close the TD(s) or avail overdraft facility on TD(s).
Setting of Limit:
The limit can be set through branches or online through IBS/MBS by customers.
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A. IBS: Login --> Emergency Services -->Safety Ring (Enter Limit Amount) --> Enter OTP, Transaction password and answer two security question already set by customer/ IBS user.
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B. MBS(PNBOne): Login --> Safety Ring (Enter Limit Amount)--> Enter TPIN --> Enter OTP.
Modification of Limit:
The limit can be modified through online mode and will be effective after a cooling period of 24 hours or through branch instantly.
Cancellation of Limit:
To restrict unauthorized online cancellation of limit by fraudster, this facility is available through branches only.
Once the limit is set, the TD(s) can’t be closed/withdrawn/used for loan (OD) against TDRs through IBS/MBS beyond the limit set by the customer. The limit will be applicable across all channels of digital transactions.