Highlights

  • Cardless Cash Withdrawal to be available at all bank ATMs via UPI: RBI Governor
  • Card skimming risks will reduce with the implementation of this new plan

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Explained: How to withdraw cash at ATM without a card

The cardholder mostly has to use a mobile banking app and raise a request to withdraw cash at the ATMs if they do not possess their debit cards.

In a bid to go truly digital, the Reserve Bank of India (RBI) announced that cardless cash withdrawal facility will be available at all ATMs soon. So how exactly will cash withdrawal without card work? It all routed back to the UPI

Also read/watch | Elon Musk decides not to join Twitter board, CEO Parag Agrawal tweets

Here's how you can withdraw cash without your card

  • To withdraw cash without a card, you will need a UPI ID, The transactions will be authenticated via UPI.
  • Once you enter the ATM, you can choose the “Cashless Withdrawal” option on the screen.
  • The ATM screen will then show a QR code that needs to be scanned within a UPI app.
  • Then the user will enter the UPI pin and the cash will be dispensed from the ATM machine

Cardless cash withdrawal will curb ATM frauds but as of now not many banks have this facility yet and there is a daily transaction limit. This ranges from Rs 10,000 to Rs 25,000, as per the facilities offered by the particular bank.

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