New Delhi: The apex bank in the country, Reserve Bank of India (RBI) had earlier instructed banks to make the Interoperable Cardless Cash Withdrawal (ICCW) option available for ATMs. ICCW allows people to withdraw money from ATMs even if they do not have the ATM cards. This feature also prevent card fraud such as cloning, skimming, and device tampering.
The National Payments Corporation of India (NPIC) has launched this feature. This feature allows users to withdraw cash from ATMs through Unified Payments Interface (UPI).
The cardless cash withdrawal option is available at ATMs operated by the State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, and others. UPI cash withdrawal is available through any UPI payment service provider app, such as GooglePay, PhonePe, Paytm, and other UPI apps.
Steps to withdraw cash from the ATM using UPI:
Visit any ATM machine. You are required to find and select the ‘Withdraw cash’ option available on the screen.
Next, select the UPI option.
A Quick Response (QR code) will appear on the ATM screen.
Now open the UPI application on your smartphone. Scan the QR code available on the ATM machines’ screen.
Enter the amount of money you want to withdraw. You can withdraw cash up to Rs. 5,000.
Enter your UPI PIN and click on the ‘Hit Proceed’ button.
Now, You will be able to withdraw money from the ATM machine.
Banks will not charge an additional fee for cardless cash withdrawals from ATMs via UPI.