Cardless Cash Withdrawal: Know Step-by-step Process

How often has it happened to you that you need to withdraw cash from an ATM urgently, but you have forgotten the card, or the card is in a different wallet!! Most of us have faced this more than once, and it does become very annoying and inconvenient when tasks are pending or dependent on cash. Generally, withdrawing money from an ATM without a card is not possible, but now banking services are getting more advanced and flexible. Banks now allow you to withdraw cash from ATMs without a debit or credit card. This article will discuss how to withdraw money from an ATM without a card, i.e., cardless cash withdrawal.

What is Cardless Cash Withdrawal?

If you are wondering how to withdraw money from an ATM without a card, it is quite easy! In the digital age, several banks have enhanced their services and allow customers to withdraw cash from ATMs without physical cards. All customers who use UPI can withdraw cash from any bank's ATM using the Interoperable Cardless Cash Withdrawal (ICCW) service.

A few banks also offer ATM cash functionality through mobile banking portals; to access it, you must stay logged into your mobile app.

Benefits of Cardless Cash Withdrawals

If you know how to withdraw money from an ATM without an ATM card, life will surely become easier. Cardless cash withdrawals have many benefits:

• Secure: All transactions are done via the bank's mobile app and require an OTP (One-Time Password) for authentication. So, cardless cash withdrawals are quite safe.
• Convenient: Since you do not have to worry about keeping cards with you all the time, you can withdraw from any bank's ATM, which makes it very easy and convenient to manage money.
• Flexible: You can withdraw cash from an ATM without a card anytime from anywhere. If you need money urgently, you can withdraw without a card from any ATM.

How to Withdraw Money From ATM Without Card?

You can withdraw money from an ATM without a card in the following ways:

Cardless cash withdrawal Through UPI

For cardless cash withdrawal through UPI, follow these steps:

1. Go to the nearest ATM, which is UPI-enabled.
2. Select 'UPI Cash Withdrawal' from the menu.
3. ATM will display a QR code on the screen.
4. Use the UPI app (like GooglePay or PhonePe) on your mobile to scan the QR code.
5. Enter the amount you want to withdraw and click 'Proceed.'
6. Enter your UPI pin to finish the cardless cash withdrawal.
7. The machine will dispense the cash.

Cardless Cash Withdrawal Without PIN

Now, it is possible to withdraw money from an ATM without a PIN, too; you only need to add a beneficiary to your account. Though the steps to withdraw cash from an ATM without a PIN differ from bank to bank, we have listed the general steps:

1. Log in to your account on the bank's net banking portal
2. Select the 'Add Beneficiary' option. In that, choose 'Cardless Cash Withdrawal.'
3. Enter the required details of the beneficiary and click on the 'Add' button.
4. Confirm the details you added above and click the 'Confirm' button.
5. You will receive an OTP on your registered mobile number
6. Enter the OTP.
7. It will take around 30 minutes to activate the beneficiary status.
8. In your bank's net banking portal, click 'Fund Transfer' and select 'Cardless Cash Withdrawal.'
9. Select the bank account and enter the amount you want to withdraw
10. Enter the OTP received on your registered mobile number
11. Once the request is successful, the beneficiary will receive a 4-digit OTP and a unique 6-digit or 9-digit code.
12. The beneficiary must go to any nearby ATM and select the 'Cardless Cash' option.
13. The beneficiary must enter all the details, such as OTP, unique code, registered mobile number, and the transaction amount.
14. The ATM machine will dispense the cash if the details match and verify.

What Is the Maximum Amount to Withdraw Using an Interoperable UPI ATM Facility?

The interoperable UPI ATM service offered by several banks makes it easy for customers to withdraw their money without using cards with the help of UPI. It is most helpful when you do not have a card in emergencies or need money urgently. The cardless cash withdrawal limit is part of your UPI daily limit. For most banks, it is Rs. 10,000 per transaction. However, it may vary from bank to bank.

With such advanced banking features and technology, handling money has become quicker, safer, and easier. It also makes it easy and efficient to handle urgent or emergencies. Cardless cash withdrawal is one of the most convenient features of modern banking services.

Frequently Asked Questions

Is there a limit to cardless cash withdrawals?

Yes, currently, the cardless cash withdrawal limit is Rs. 10,000 per day or Rs 25,000 per month.

Are there any charges for cardless cash withdrawals?

No, other than the normal ATM charges, banks don't charge any additional charges for cardless cash withdrawals.

Can I withdraw cash using my phone?

Yes, by using the Interoperable Cardless Cash Withdrawal (ICCW) service. Customers who have downloaded any UPI app on their phones can withdraw cash.

What is needed for cardless withdrawal?

The most important thing for cardless withdrawal is to have a UPI app on your phone and remember your UPI PIN, as without these, you will not be able to withdraw cash without an ATM card.

How do cardless cash withdrawals at ATMs work?

Cardless cash withdrawal at ATMs uses the UPI or IMT service. Customers can scan the QR code and provide the necessary details to withdraw money from any UPI-enabled ATM within minutes.

Is cardless withdrawal chargeable?

No, banks do not charge anything extra for cardless cash withdrawals. Only regular ATM charges are charged as applicable.