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Cardless Cash Withdrawal: Many times we forget our ATM card or wallet at home in a hurry. In such a situation, if we need money, we can take advantage of online transactions. Apart from this, if you need cash then you can choose the option of cardless cash withdrawal. For the convenience of customers, RBI has started the facility of cardless cash withdrawal on UPI and Automated Teller Machine (ATM). That means now there will be no need for credit card and debit card to withdraw cash from ATM.
What is cardless cash withdrawal?
Cardless cash withdrawal is an easy way to withdraw money from ATM. In which money can be withdrawn even without debit card. To avail this service your mobile number must be registered with the bank. In which an OTP will be generated and you will be able to withdraw money easily.
Cardless Cash Withdrawal Process
– First go to ATM and choose cardless cash withdrawal option
– Then you have to open the bank app in your mobile.
– Select cardless cash withdrawal option in the bank's app
– Now enter the amount you want to withdraw
– After this a PIN will be sent to your registered phone number
– Then confirm the transaction
– After this you will get the money easily
How to avoid fraud?
Nowadays many types of frauds are happening. You should always protect yourself from such scams. You may also get cheated in cardless withdrawal. In such a situation, you should keep in mind that while making withdrawal, no one should note down your PIN or even take a photo. Also set a daily limit of Rs 10,000-25,000 for cardless cash withdrawal to avoid fraud.