If you’re urgently in need of cash and forgot your ATM card at the site, then just relax and use UPI instead. The Unified Payments Interface (UPI) has rapidly changed the digital payment system of India and now it’s ready to reshape the offline currency withdrawal system. In the list of existing benefits of using UPI one more is going to be added. As per the National Payments Corporation of India (NPIC), UPI can now be used to withdraw cash from ATMs. A new feature called Interoperable Cardless Cash Withdrawal (ICCW) will allow all to withdraw cash from an ATM using UPI without carrying debit cards.
Withdraw Cash At ATM Through UPI
Cash withdrawals at ATMs using UPI will prevent ATM cards related frauds like cloning, skimming and device tampering, and for this, the Reserve Bank of India is also making efforts in order to make sure every major bank introduces the ICCW option for ATMs. Currently, the UPI cash withdrawal system is available at the ATMs of these banks: State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and more. Moreover, users can withdraw cash through UPI using famous applications like GooglePay, PhonePe, Paytm and other UPI apps on which the majority of them would have already registered.
Steps To Withdraw Cash At ATM Using UPI:
- First, visit any ATM machine and select the option ‘Withdraw cash’.
- Now select UPI.
- Then the ATM machine will display the QR code.
- You will have to scan the QR code generated by launching your UPI app.
- Next, enter the amount to withdraw. But remember the max limit is ₹5,000.
- Lastly, enter the UPI PIN and enter.
- You will get your cash from the machine.