Cash Withdraw from ATM Using UPI: If you have gone to the ATM to withdraw money and forgot to take the card, then do not worry, because now you can also withdraw cash from ATM through UPI.
Cash Withdraw from ATM Using UPI: Need money but don’t have a debit or credit card? to take a rest. UPI has got you covered. Unified Payments Interface (UPI) has already made our lives easier with cardless transactions and purchases.
Also the National Payments Corporation of India (NPIC) implements UPI, allowing users to withdraw cash from ATMs through UPI. The Interoperable Cardless Cash Withdrawal (ICCW) feature allows people to withdraw money from ATMs even when they do not have a card.
Cash Withdrawal Using UPI
The Reserve Bank of India (RBI) has also asked banks to provide ICCW option for ATMs to prevent card frauds like cloning, skimming and device tampering. Cardless cash withdrawal at ATM option is available at ATMs operated by 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. Today we are going to tell you how to withdraw cash from ATM through UPI. Let us know its step by step process.
How to withdraw cash from ATM using UPI
- Go to any ATM machine.
- You need 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 screen of ATM machines.
- Enter the amount you want to withdraw. You can withdraw cash up to Rs.5,000.
- Enter your UPI Pin and click on ‘Hit Proceed’ button.
- Now you will be able to withdraw money from ATM machine.
Notably, banks will not charge extra for cardless cash withdrawal from ATMs through UPI. According to the Reserve Bank of India (RBI), “On-US/Off-US ICCW transactions will be processed without charges other than the prescribed fee (on interchange fee and customer fee).”
Meanwhile, the fee/charges for using UPI from any other bank ATM will remain the same as the charges for existing card withdrawals. Customers are allowed five free transactions per month at ATMs of their respective banks and three free withdrawals at ATMs of other banks. Then they will be charged Rs 21 for each transaction.
