What is the meaning of SBI ATM response code 050 unauthorized?

By BYJU'S Exam Prep

Updated on: September 25th, 2023

SBI ATM response code 050 unauthorized means that the account the users are using or the account linked to the card is compromised. The users have to contact the bank to ensure that the cash is not lost or stolen. Users should learn more about this by getting in touch with their corresponding bank. This is to prevent theft or loss of your money. Alternatively, you can call the numbers on the back of your ATM card to speak with customer service.

SBI ATM response code 050

Error number 050 could indicate unauthorised use of the account that users are accessing or the account that belongs to the card. State Bank of India is a financial services and public bank company in India with its headquarters in Mumbai, Maharashtra. It is the 49th largest bank in the world by total assets, ranked 221st on the list of largest companies in the world of the 2020 Fortune Global 500, and is the first Indian bank on this list.

SBI is a public sector and India’s largest bank with a market share by assets of 23% and 25% of the total lending and deposit market. It is the fifth big employer with around 250,000 employees in India. On September 14, 2022, State Bank of India announced its third lender (after ICICI Bank and HDFC Bank) and for the first time the market cap on the Indian Stock Exchange surpassed the £5 trillion mark, his seventh became an Indian company.


What is the meaning of SBI ATM response code 050 unauthorized?

The SBI ATM response code 050 unauthorised signifies that the user’s or the card’s associated account has been compromised. To make sure that the money is not stolen or lost, the users must contact the bank.

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