look news india
mobile banking: UPI-ATM, known for cardless cash access, helps you easily withdraw money from ATMs of various banks. For this, you just need to keep a smart phone with you. When withdrawing cash, you will need a UPI app, which is enabled for ATM transactions. According to a report by MySmartPrice, the National Compensation Corporation of India (NPCI) has approved the facility of withdrawing money through UPI. Now you do not need to keep a debit card with you.
Card withdrawal was tested at ATMs in Mumbai and found to be more difficult than card processing. But after some testing it was found that withdrawing money from ATMs through UPI app is easier than using debit card. So let's see how to withdraw money from UPI app.
- Step-1: At the ATM, the customer needs to first select the UPI cash withdrawal option, then enter the amount to be withdrawn.
- Step-2: Once you enter the amount a special QR code will be displayed on the ATM screen
- Step-3: The customer needs to use any UPI app to scan this special QR code.
- Step-4: After scanning the QR code, select Withdraw Money and complete the transaction by entering the UPI PIN from the UPI app.
what will be the limit
Let us tell you that it takes about 30 seconds to withdraw money from UPI. If it takes some time, do not panic, a maximum of Rs 10,000 can be withdrawn from UPI at a time. This amount will be determined by your daily UPI transaction limit and the rules of your bank. Note that the limit may vary from bank to bank.
How beneficial it would be
Withdrawing money through UPI will become very easy. Because, you will not need to carry your ATM card with you. This facility will be available exclusively at those banks and ATMs that support UPI. One advantage of this is that if you have opened a new bank account and have not yet received a card, then you can easily withdraw money through UPI.