All about cardless withdrawal of cash from ATMs

Several banks have launched the ‘Card-less Cash Withdrawal’ facility in their ATMs and encourage customers to use the option in these pandemic times. This facility enables customers to withdraw cash securely and conveniently from ATMs. State Bank of India, Bank of Baroda, and ICICI Bank among others offer this service to customers.

How do I withdraw cash from ATMs without using a debit card?

The process of withdrawing cash from ATMs without using a debit card varies among banks. First, customers have to download the respective bank’s mobile application. If you are an SBI customer, it is the YONO app, Bank of Baroda has BOB MConnect plus and ICICI Bank has iMobile. To initiate the transaction, go to ‘YONO cash option’ if you are an SBI customer. Tap the ‘cash on mobile’ option if you are a Bank of Baroda customer or the ‘card-less cash withdrawal’ section if you are an ICICI Bank customer.

After choosing the designated option for cash withdrawal without using a debit card, you need to enter the amount you wish to withdraw, of course within the bank’s withdrawal limit. Then, to initiate the process and confirm the transaction, you need to enter the banking app’s PIN (password).

The bank will generate a one-time password (OTP) for the transaction, which will be messaged to you on your registered mobile number. The OTP has a limited validity; for instance an OTP from Bank of Baroda is valid for 15 minutes. You need to use the OTP received on the ATM of the same bank to withdraw cash without using a debit card.

Is there a withdrawal limit for using this card-less cash withdrawal facility?

Yes, this facility has a daily transaction limit, which allows withdrawal in the range of Rs 5,000 to Rs 20,000. It varies among banks. For instance, you can withdraw money up to Rs 5,000 from a Bank of Baroda ATM and up to Rs 20,000 from SBI an ATM without using a debit card.

Can I withdraw cash from other bank ATMs?

No, this facility can be used only on the respective bank’s ATMs. For instance, if you are Bank of Baroda customer then you can withdraw cash only from Bank of Baroda ATMs across cities.

What are the benefits of card-less cash withdrawal facility to customers?

You can withdraw cash at your convenience from an ATM just by using a mobile phone with the bank’s app installed.

Also, this card-less cash withdrawal facility from the banks reduces frauds and skimming of debit cards at ATMs while transacting.

What should I do if a withdrawal fails at an ATM after using this facility?

If a withdrawal fails at an ATM due to a technical glitch but the amount gets deducted from your account, inform your bank immediately. The amount will be credited back to your bank account within seven working days.