How to Withdraw Cash from ATM using UPI by 3 Steps

How to Withdraw Cash from ATM using UPI by 3 Steps

Customers will have to use their UPI apps instead to withdraw cash from the ATM. This service will add extra layers of security in terms of withdrawing cash from ATMs. To access this service, customers need to have a UPI-enabled mobile banking app or any UPI app.

Features of the UPI-ATM (ICCW) Service

Main features of this facility are mentioned below:

  • The service allows seamless card-less transactions
  • Individuals do not need to carry their debit/credit card for making Withdraw Cash from ATMs
  • It will allow users to withdraw cash from multiple accounts using UPI app
  • Transaction limit of this facility is up to Rs. 10,000. However, it may vary from bank to bank. The limit is covered under the total transfer limit through UPI every day (Rs. 1 Lakh).
  • Two-step verification is used that helps add security and reduce chances of fraudulent transactions

Banks Offering UPI-ATM (ICCW) Services

Below-mentioned is the list of banks that are currently active on ICCW service:

Bank of BarodaCity Union Bank
Canara BankCentral Bank of India
IndusInd BankYES Bank
Ujjivan Small Finance BankThe Mehsana Urban Co-operative Bank

Key Points of ICCW

  • Need not carry multiple cards to withdraw cash from ATM
  • The facility will eliminate skimming, cloning, and other card-related frauds
  • Customers who are not issued physical cards can use this service
  • Paperless transaction

Fees and Charges

Customers are allowed to carry 5 transactions (including financial and non-financial transactions) in a month from their own bank ATMs. They are also eligible to carry out free transactions from other bank ATMs (including financial and non-financial transactions) i.e. three transactions in metro centres and five transactions in non-metro centres. Thereafter, customers will be charged Rs. 20 per transaction.

Maximum Withdraw Cash through UPI-ATM

As per the initial arrangements, a maximum of Rs. 1 Lakh every month can be withdrawn as one can carry out a transaction only up to Rs. 1 Lakh through UPI every month. It also has an upper capping of Rs. 10,000 every day. However, if one uses the same account for other UPI transactions, the overall withdrawal limit would decrease accordingly.

Also Read : How to Withdraw Money From atm Using UPI in 2024

How to Withdraw Cash at ATM using UPI-ATM ICCW?

  • At the ATM, select ‘UPI cash withdrawal’ option.
  • ATM will ask you to enter the amount that you want to withdraw cash.
  • You will be prompted with a single-use QR code on the screen.
  • Scan the prompted QR code on the screen using any UPI application on your mobile.
  • Authorize the transaction. UPI will be debited upon authorization.
  • On the ATM, tap on ‘Press here for cash’
  • Your cash will be dispensed.

Leave a comment