Cardless cash withdrawal facility at ATM: ATMs are a common sight in most places, and for good reason – they’re convenient, fast, and easy to use. But what about those times when you need to withdraw cash but don’t have your card with you? Fear not! There’s now a cardless cash withdrawal facility at ATMs that will allow you to make the transaction without having to remove your card from your wallet or purse. So whether you’re looking for an easy way to get some cash or just want to avoid having to fumble around in your pockets for your credit or debit card, the cardless cash withdrawal facility at ATMs is a great option.
The Reserve Bank of India (RBI) in its latest circular has directed all banks, ATM networks, White Label ATM Operators or WLAOs to provide Interoperable Card-less Cash Withdrawal (ICCW) across their ATMs in India.
RBI has also advised the National Payments Corporation of India (NPCI) to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks, which in turn would help in authenticating the transactions. “All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs. NPCI has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks,” the central bank wrote in its circular.
PNB earns over Rs 645 crore through ATM transaction charges in FY22
A cardless cash withdrawal facility is an ATM that allows you to withdraw cash without a card. This is a great option if you don’t have a card, or if you want to avoid the security risks associated with cards.
At most ATM’s, you can now withdraw cash without a card by using the ‘cardless cash withdrawal facility’. To use this service, simply insert your bank card into the ATM and follow the on-screen instructions. Once your cash is available, just walk away – there’s no need to return to the ATM screen.
This new feature is available at most ATMs in India, Nepal and Sri Lanka. It’s also coming to more countries soon – so make sure you’re keeping up with the latest news from your bank!
How to use the cardless cash withdrawal facility at ATM?
To use the cardless cash withdrawal facility at an ATM, you will need to know your bank’s network code and your ATM’s pin number. Once you have these two pieces of information, you can withdraw money using your debit or credit card without having to carry around a card or cash.
First you need to request the bank to use this facility. Here’s what you need to do:
Once the process its successful, you will receive a success message over screen of transaction completion. After that, you will receive an SMS with a unique 6-digit code on registered mobile number from ICICI Bank. This code will be valid for up to six hours. Once you have the code, here’s what you need to do next:
If you are an HDFC Bank customer, you will first have to add a beneficiary and then send money to the beneficiary. Post this, the beneficiary will be able to withdraw cash from the ATM in a cardless manner. Here’s what you need to do:
Add a beneficiary
Send money to beneficiary
Once this is done, the beneficiary can visit a ATM, enter the following details: beneficiary mobile number, 9-digit order ID and amount of the transaction. Once these details have been authenticated, cash will be disbursed from the ATM.
Using the cardless cash withdrawal facility at an ATM can be a convenient and quick way to get your money. Here are some of the benefits:
-You don’t have to carry around a wallet full of cash, so you can avoid having to carry it around with you.
-It’s easy to use – just insert your bank card into the ATM and follow the prompts.
-You can withdraw money quickly and easily, without having to wait in line or deal with any cashiers.