In today’s digital age, almost everything can be done online. From bill payments to shopping, people are making payments online. Whenever we need cash, we often choose the option of withdrawing money from the nearest ATM. But we often forget to carry our cards with us.
If you are also often to forgot to carry your ATM cards, then don’t worry. In such a situation, you can use cardless cash withdrawal process. In this you can be able to withdraw money from ATMs using Unified Payments Interface (UPI). Many banks are now offering UPI-based cash withdrawal from ATMs.
What is Cardless Cash Withdrawal?
Cardless cash withdrawal is the process of withdrawing money from an ATM without a debit or credit card. It is a safe and convenient way to withdraw money from your bank account. It allows you to transfer money between different bank accounts without any physical card. Many banks are now offer ATM cash withdrawal facility.
Which bank’s ATMs are offering UPI-based Cash Withdrawal Service?
The Reserve Bank of India (RBI) has directed all banks to offer cardless cash withdrawal facility through UPI at all ATMs. Under this facility, customers will no longer have to use their debit or credit cards to withdraw money from ATMs. Many banks, including SBI, HDFC, ICICI, and PNB, now offer ATM cash withdrawal facility.
How Much Money can be Withdrawn using UPI-based Cash Withdrawal Service?
Cardless cash withdrawal offers many advantages. You don’t have to carry your debit or credit card with you all the time. If your card is stolen or lost, there is no problem in withdrawing money. This requires you to have an active UPI and internet running on your phone. Cardless cash withdrawal allows you to withdraw up to ₹10,000 at a time and a maximum of ₹20,000 per day.
How to Withdraw Cash from an ATM Through UPI-based Cash Withdrawal Service?
- First, go to an ATM that supports UPI-ATM withdrawal.
- Select the ‘UPI Cash withdrawal’ option on the ATM screen.
- Enter the amount you want to withdraw (limit up to ₹10,000 per transaction).
- A dynamic QR code will appear on the ATM screen once.
- Open your UPI app, scan the QR code and select your account.
- Enter your UPI PIN to authorize the transaction.
- The amount you entered for withdrawal will now come from the ATM.
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