Forgot ATM card; Need cash but forgot to carry your debit or credit card? Relax. UPI got your back. The Unified Payments Interface (UPI) has already made our lives easier with card-less transactions and purchases. Adding to the benefits, National Payments Corporation of India (NPIC) purviewing UPI allows users to withdraw cash from ATMs through UPI. The feature called Interoperable Cardless Cash Withdrawal (ICCW) allows people to take out money from ATMs even if they don’t carry the cards.
Forgot ATM card? You can withdraw cash using your phone at the ATM
The Reserve Bank of India has also asked banks to provide the ICCW option for ATMs to prevent card fraud including cloning, skimming and device tampering. The cardless cash withdrawal facility is available on ATMs of State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and more. The UPI cash withdrawal facility can be availed using any UPI payment service providing apps like GooglePay, PhonePe, Paytm and other UPI apps.
Here is a step-by-step guide to withdraw cash using UPI from ATMs.
How to withdraw cash from the ATM using UPI
Step 1: Visit any ATM machine and find and select the ‘Withdraw cash’ option on the screen.
Step 2: Next, select the UPI option.
Step 3: A QR code will be displayed on your ATM screen.
Step 4: Now open the UPI app on your phone and scan the QR code displayed on the ATM machine.
Step 5: Enter the money you want to withdraw. You can withdraw cash up to Rs. 5,000.
Step 6: Enter the UPI PIN and tap the ‘Hit Proceed’ button.
Step 7: You will be able to get your cash from the ATM machine.
Notably, banks will charge no additional fee for cardless cash withdrawal from ATMs using UPI. According to RBI, “The on-us/off-us ICCW transactions shall be processed without a levy of charges other than those prescribed (on Interchange Fee and Customer Charges).”
However, the charges for using an ATM from a different bank using UPI will remain the same as current card withdrawal charges. Customers are permitted five free transactions per month at the ATMs of their respective banks and are allowed three free withdrawals at other banks’ ATMs. After that they will be charged Rs. 21 for each transaction.