Going cashless is the new trend. But what happens when your retailer suddenly asks for cash? Well, you’ll be looking for the nearest ATM.
ATMs are going smart and soon you’ll be able to withdraw cash without using the Debit Card. Scanning the QR code through a UPI app would be enough. To make this possible, NCR Corporation, the ATM company has recently launched the very first Interoperable Cardless Cash Withdrawal (ICCW) solution which is purely based on UPI payments.
The City Union Bank with NCR corporation has taken the responsibility of installing these of a kind ICCW-based ATMs. So far, more than 1500 ATMs across the country have been upgraded. As per the news, more installations will happen over the coming months.
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How to withdraw cash with smartphone from an ATM
Here is how you can withdraw cash without card:
Step 1: To withdraw money from the new ATM, open any UPI app such as GPay, BHIM, Paytm, Phonepe, Amazon on your smartphone.
Step 2: A QR code will be shown on the ATM which needs to be scanned.
Step 3: After running the scan, enter the amount you want to withdraw. Click the Proceed button to continue.
Step 4: Enter the asked 4 or 6digitst UPI PIN.
Following the above steps, you’ll be able to withdraw cash hassle-free. However, in the beginning, people can only withdraw Rs. 5,000 using this method.
How to create a UPI account
If you don’t have a UPI account, here is how you can set the app for the first time.
Download any apps from the given list to create a UPI account.
The next step involves registering into the app by entering your number associated with your bank. Next up, search the bank from the list that pops and enter your bank account number. Select your account and provide all the ATM card details. Once you are done with entering the details, you will be asked to set a 4 digit UPI PIN. After entering the PIN, your UPI account is ready to be used for online payments or to withdraw cash with smartphone.