look news india
UPI ATM Cash Withdrawal: Last week, Central Reserve Bank RBI Governor Shaktikanta Das had made a big announcement regarding UPI (Unified Payment Interface). He has proposed that soon UPI users will be able to deposit cash in Cash Deposit Machines (CDMs) through UPI apps on their phones. This means that there will be no need for debit card in cash deposit kiosk machines in banks, money will be deposited directly on the UPI app in a few clicks.
But do you know that you can also withdraw cash from ATM through UPI? It is very important for you to know about this. This facility was started only last year, although many people are not fully aware of its uses, extent and benefits. If you also want more information about this facility, then you can read the complete information below.
cash withdrawal from upi atm
UPI-ATM was launched in September last year. In this you can withdraw cash from ATM without ATM/debit card. Money can be withdrawn from different bank accounts through UPI. In this you will have to withdraw money by scanning the QR Code.
Cash withdrawal limit from UPI ATM
Through UPI you can withdraw up to Rs 10,000 from ATM. Along with this, you will have to remember the daily UPI transaction of Rs 1 lakh and the remaining conditions of your bank.
How to withdraw money from ATM through UPI?
- To withdraw money from ATM through UPI, you have to follow the procedure given below-
- First of all, go to any ATM and select the option of 'UPI Cash Withdrawal in ATM'.
- Now type the amount you want to withdraw.
- A new page will open on which you will see a single use dynamic QR code.
- Scan this code with any UPI app on your phone.
- Now enter your UPI PIN.
- Once the transaction is authenticated, the machine will withdraw your cash.
UPI ATM cash withdrawal fees and charges
NPCI (National Payments Corporation of India) does not charge any fee on ATM cash withdrawal through UPI. However, since the charges imposed by the bank are applicable on other ATM transactions, you will have to pay those charges.