In today’s era, having a bank account and an ATM card (also known as a Debit card) is common among individuals. With an ATM card, one can easily withdraw cash from an ATM machine.
However, withdrawing cash has become even more convenient, as it is now possible to do so without an ATM card by using UPI (Unified Payments Interface).
Let’s understand how you can take advantage of this facility:
Cardless Cash Withdrawal
The concept of cardless cash withdrawal allows bank customers to withdraw cash from their bank’s ATM without using their physical card.
To avail this facility, the bank should be live on UPI and the ATM should enable UPI-ATM interoperable card-less cash withdrawal.
Here’s a step-by-step guide on how to withdraw cash from an ATM using UPI:
- Select UPI Cash Withdrawal Option: When initiating the cash withdrawal process at the ATM, choose the UPI cash withdrawal option.
- Enter Withdrawal Amount: Enter the desired amount you wish to withdraw. Ensure that the amount is available in your bank account.
- Scan the QR Code: The ATM screen will display a single-use dynamic QR code (signed). Use any UPI application on your mobile device to scan the QR code. Authenticate the transaction by entering your UPI PIN.
- Authorize the Transaction: Once the UPI transaction is successfully debited, select ‘Press Here for Cash’ on the ATM screen.
- Cash Withdrawal: If the transaction is successful, the ATM will dispense the requested cash amount.
By leveraging UPI for cash withdrawals, individuals can enjoy the convenience of accessing cash from ATMs even without their physical ATM cards.
It is important to note that this facility is only available at ATMs that support UPI-ATM interoperable card-less cash withdrawal.
