Cardless Cash Withdraw

Cardless Cash withdraw is a secure way to withdraw cash from ATM without any debit and credit card. This feature will safe you from any fraudulent activities. RBI (reserve bank of India) allowed this offer to all the banks but as of now only few banks has been started.

In Cardless cash withdraw you can withdraw cash from ATM by using the UPI. Deputy governor of RBI said that the cardless cash withdraw can be done from any bank's ATM, White level ATM or third party ATM.

Account holder can withdraw cash through any UPI apps such as Paytm, GPay and Amazon Pay. When user will visit the UPI-enabled ATMs, then user only needs to scan the QR code using the UPI apps.

Now all bank's ATM provide the option of interoperable card-less cash withdraw at their ATMs. RBI governor said in his statement that card-less withdraw from any bank's ATM will reduce the scope for frauds. As of now only existing customer of few banks could withdraw cash without a card at their own bank's ATM network.

So if you are a customer of, say, HDFC and want to make a card-less withdraw, you can do so only at HDFC's ATM. Once interoperability is implemented, however, you will be able to withdraw cash from any other bank's ATM in your location, using the UPI facility. According to the HDFC bank website, "Card-less cash withdraw request can be initiated for a minimum of  Rs.100 per transaction and up to a maximum of  Rs.10,000 per day or Rs.25,000 per month for a beneficiary (The limits are subject to change as per regulatory guidelines)"

RBI has proposed to allow interoperability in card-less cash withdraw transactions at all bank's ATM using the UPI facility in its monetary policy review meeting held in April 2022. So, The facility of card-less cash withdraw through ATMs was limited for few bank's but now it is proposed by RBI that card-less withdraw facilities would be available across all banks and ATMs networks using UPI.

✔Card-less cash withdraw using GPay

1. Go to ATM                                                                                                                                                2. On ATM screen select a option                                                                                                                            ⏩ UPI cash Withdraw                                                                                                                    3. Enter/select amount you want to withdraw                                                                                                           ⏭Now ATM generates a secure signed dynamic QR on the ATM screen for 30 second.              4. Open Google pay app on your mobile device                                                                                        5. Scan the QR code on the ATM screen                                                                                                                     ⏩Amount and Payee details are pre-filled.                                                                                                 ⏩On screen, you can find all the eligible bank accounts to withdraw cash from.                       6. Select the bank account you want to withdraw cash from.                                                                        7. To make the payment, enter your UPI PIN.

Now wait for the ATM to dispense your cash.

If the withdraw fails at an ATM due to any tech glitch and amount also gets deducted from your account, then inform your bank immediately. The deducted amount will be credited back to your bank account within the seven days.

For more information you can reach out to the official site of RBI using the below link.                            RBI Official

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