How to Withdraw cash from an ATM using UPI?
Cardless Withdraw Money allows bank customers to withdraw cash from their bank ATMs, without using their cards. The bank should be live on UPI to allow this facility. The ATM should also enable UPI-ATM Interoperable Card-less Cash Withdraw Money facility.
United Payments Interface, which comes under the purview of the National Payments Corporation of India (NPCI), has gained phenomenal traction in India post its launch in 2016.
UPI’s popularity as a payment method stems from the convenience it offers as the system combines multiple bank accounts into a single mobile application, making the transfer of money and online payments completely seamless.
How to Withdraw Money From atm Using UPI?
In the latest feature addition, NPCI has unveiled withdrawal of cash from any bank ATM using just UPI Withdraw Money. Using this new feature called Interoperable Cardless Cash Withdrawal (ICCW), customers will be saved the trouble of carrying their cards or remembering their ATM PINs.
The Reserve Bank of India has directed banks to provide this ICCW option at ATMs in a bid to prevent card-related frauds such as cloning, skimming and device tampering. At the moment, the cardless cash withdrawal facility is only available at a few banks at ATMs operated by those particular banks themselves (known as an on-us basis). With the introduction of the new guidelines, customers will now be able to withdraw from any bank’s ATM, not just their own.
ICCW can be used via most major UPI apps such as Google Pay and PhonePe – all you’ll need is a UPI app, an active internet connection on your mobile phone, and an ATM machine. However, do note that using ICCW, you can withdraw only up to Rs. 5,000.
How to Withdraw Cash from the ATM?
Here are the steps to withdraw money from the ATM using UPI:
- Visit the ATM of any bank and select the ‘Withdraw Cash’ option on the screen.
- Now, select the ‘UPI’ option.
- You will see a QR code displayed on the screen.
- Open the UPI-based app on your mobile phone (e.g. Google Pay, PhonePe).
- Open the QR code scanner option on your UPI-based mobile app.
- Scan the QR code shown on the screen of the ATM machine.
- You will now be able to withdraw cash (up to Rs. 5,000).
- Enter your UPI PIN.
- Tap the ‘Hit Proceed’ button.
- You will get your cash from the ATM machine.