The “cardless cash withdrawal facility,” or UPI-ATM, makes it simple for you to take out cash from ATMs owned by several banks. All you need to do is carry your smartphone about for this. You’ll need a UPI app that has ATM transactions enabled to take out cash. The National Payments Corporation of India (NPCI) has authorized the UPI withdrawal feature, according to MySmartPrice. You are no longer concerned about always bringing your debit card with you.
The news reported that the test
of using an ATM in Mumbai to withdraw cash without a card proved to be slightly more challenging than using one with a card. However, following some testing, it was discovered that using the UPI app to withdraw cash from an ATM is simpler.
How to use UPI Apps to withdraw cash
- When using an ATM, the user must select “UPI Cash Withdrawal”. Next, the desired withdrawal amount needs to be input.
- A unique QR code will show up on the ATM screen after the money has been entered.
- The customer must use one of his UPI apps to scan this unique QR code.
- After scanning the QR code, you must finalize the transaction by entering the UPI PIN from your UPI app to withdraw cash.
What will the upper bound be?
We want to let you know that withdrawing money over UPI can take up to 30 seconds. In the event of a minor delay, do not panic. You can withdraw up to ₹10,000 using UPI at a time. This amount is determined by your bank’s policies and your daily UPI transaction limit. Keep in mind that every bank may have a different restriction. You may easily withdraw money using UPI since you don’t need to have your card with you! The majority of banks and ATMs that accept UPI offer this service. This also has the benefit of allowing you to start a new account without waiting for a card, you can still easily withdraw money through UPI.
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