Cash Withdrawal Without ATM: The banking system is steadily moving towards Digital India. Previously, people used to withdraw money from ATMs, but now a debit card or ATM card will no longer be required. Many banks in the country have introduced mobile and UPI-based cash withdrawals. This means you can now withdraw cash from ATMs using just your mobile phone and a UPI app. This service is especially beneficial for those who often forget their cards or want to withdraw cash even if they are lost.
What is Cardless Cash Withdrawal Service?
Cardless cash withdrawal is a new banking facility that allows customers to withdraw money from ATMs without an ATM card. This feature is based on the UPI (Unified Payments Interface) platform and is available at ATMs of most major banks in the country. Customers can withdraw cash by scanning their UPI app, such as PhonePe, Paytm, Google Pay, or BHIM. This method is completely secure and convenient as it does not require sharing the card or PIN.
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Withdraw Cash from an ATM Using a Mobile Phone
If you want to withdraw money from an ATM using your mobile phone, first go to your nearest ATM. Select QR Cash or Scan to Withdraw from the options displayed on the screen. Next, open any UPI app on your mobile and scan the QR code displayed on the ATM screen. Enter the amount you wish to withdraw in your UPI app. Then, confirm the transaction by entering your UPI PIN. Your cash will be withdrawn from the ATM within seconds. This process is faster and easier than traditional card transactions.
How Safe Are Cardless Transactions?
Cardless cash withdrawals do not require any card swiping. This virtually eliminates the risk of scamming or card theft. The UPI PIN is used, which is known only to the user. Furthermore, the entire transaction process is encrypted on the bank server.
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Do This When Banks Are Closed
Many times, people need money when banks are closed or on holidays. This feature proves extremely useful in these situations. Furthermore, most banking services are now online. You can now instantly transfer up to ₹1 lakh to anyone using mobile banking or net banking, without visiting a bank branch. This saves customers time.
