The Reserve Bank of India has mandated all banks in the country to enable cardless cash withdrawals at all ATMs. Here's how to get cash from an ATM without using a debit or credit card in a step-by-step guide.
In a recent circular, the Reserve Bank of India (RBI) required all banks, ATM networks, and White Label ATM Operators or WLAOs in India to provide Interoperable Card-less Cash Withdrawal (ICCW) across their ATMs. Customers will be able to withdraw cash from ATMs without having to use their debit or credit cards.
The Reserve Bank of India (RBI) has also directed the National Payments Corporation of India (NPCI) to promote UPI integration with all banks and ATM networks, which will aid in transaction authentication. "ICCW may be offered by all banks, ATM networks, and WLAOs at their ATMs. In a circular, the central bank stated that "NPCI has been advised to facilitate Unified Payments Interface (UPI) connectivity with all banks and ATM networks."
The RBI stated in the same circular that while UPI will be utilised for client authorization, settlement will be handled by the National Financial Switch (NFS) or ATM networks. "On-us / off-us ICCW transactions should be conducted without the imposition of any costs other than those prescribed under the circular on Interchange Fee and Customer Charges," the bank noted.
The withdrawal limitations, according to the RBI, will be consistent with the limits for ordinary on-site and off-site ATM withdrawals. "All other directives relating to Harmonisation of Turn Around Time (TAT) and consumer compensation for unsuccessful transactions will remain in effect," it continued.
It's worth mentioning that only ICICI Bank and HDFC Bank currently offer cardless cash withdrawals at their ATMs.
If you have an ICICI Bank account, here's how to get cash without using your ATM card.
How to withdraw cash without your ATM card (ICICI Bank)
You must first get permission from the bank to use this service. This is what you must do:
Step 1: Open the ICICI Bank mobile app and go to Services.
Step 2: Select Cardless Cash Withdrawal from the drop-down menu.
Step 3: Enter the amount to be debited, a four-digit temporary PIN, and the account number to be debited from.
Step 4: Review the information on the pre-confirmation page and click Submit.
When the process is complete, you will see a success message on the transaction completion screen. ICICI Bank will then send you an SMS with a unique 6-digit code to your registered cellphone number. This coupon is good for a maximum of six hours. Here's what you need to do now that you have the code:
Step 1: Go to an ICICI Bank ATM and enter the following information: Your registered cellphone number, the 4-digit temporary code you've set, the 6-digit code (as received through SMS), and the amount you want to withdraw.
Step 2: After these parameters have been verified, the ATM will disburse cash.
How to withdraw cash without your ATM card (HDFC Bank)
If you have an HDFC Bank account, you must first add a beneficiary before sending money to that person. After that, the beneficiary will be able to withdraw cash from an ATM without using a card. This is what you must do:
Add a beneficiary
Step 1: Access HDFC Bank's NetBanking service.
Step 2: Go to the Funds Transfer tab and select Request.
Step 3: Select Cardless Cash Withdrawal from the Add a Beneficiary drop-down menu.
Step 4: After entering the beneficiary's information, click Add and Confirm.
Step 5: Finally, confirm the mobile number and validate the OTP received.
Send money to beneficiary
Step 1: Open the HDFC Bank NetBanking app and log in.
Step 2: Choose the Fund Transfer option, followed by Cardless Cash Withdrawal.
Step 3: Next, choose a Debit Bank Account and then a beneficiary from the list of registered recipients.
Step 4: Now type in the amount, click Continue, and then Confirm.
Step 5: To complete the transaction, confirm the mobile number and input the OTP.
The OTP, nine-digit order ID, and money will now be sent to the beneficiary by SMS.
After that, the beneficiary can go to an ATM and provide the following information: beneficiary mobile number, 9-digit order ID, and transaction amount. Cash will be disbursed from the ATM once these data have been verified.