Winning Bizness Desk

Mumbai. As of now people are on the impression that Debit cards are mandatory to withdraw cash from ATM machines. But in today's era of digital and technological advancement, anyone can withdraw money from an ATM machine even without a debit card. For this you only need your mobile with internet and you do not need an ATM card for this. This banking service has been running for many days. Although many banks were already giving their customers the facility to withdraw money without a card, now the Reserve Bank has increased its scope further. Unified Payment Interface (UPI) will be used for this facility. RBI has allowed banks to provide facilities to withdraw money without using a card. Today we will talk in detail about withdrawing money from ATM without a card here. To withdraw money from an ATM without a debit card, you must have a smartphone with UPI enabled app like BHIM, Paytm, GPay, PhonePe etc. You will be able to withdraw money through these apps.

What are the procedures ?

To withdraw money, first go to the ATM and choose the option to withdraw money without a card. You will see an option to provide identification through UPI. After this open the UPI app on your mobile and scan the QR code displayed in front of you. You will be authenticated through UPI and after that you will be able to withdraw money. The further process will be the same as before. Enter the amount of money you want and withdraw your money. The Reserve Bank will soon issue separate instructions to NPCI, ATM networks and banks to facilitate withdrawal of money from ATMs without debit cards. UPI will be used for this facility and customers will be identified through UPI and such transactions will be settled through the ATM network. Let us tell you that banks will also get a lot of relief from this step.

Benefits of withdrawing money without card

Reserve Bank Governor Shaktikanta Das has said that the facility of withdrawing money from an ATM without a card is very beneficial as the facility of cash withdrawal without a card would help in preventing frauds like card skimming, card cloning. Apart from this, you will not even need to keep the card with you. Your smartphone will do all this work.