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UPI-ATM, known as the Interoperable Cardless Cash Withdrawal (ICCW) service, helps customers easily get cash from ATMs of various participating banks without the need for their physical card. All you need to do is carry your smartphone with you. To withdraw cash, it is necessary to use a UPI app enabled for ATM transactions.

According to a report by MySmartPrice, the National Payment Corporation of India (NPCI) has approved UPI-enabled withdrawals, and now you don't have to worry about carrying your debit card everywhere. They also conducted a test at a Mumbai ATM for cardless withdrawals, which reportedly revealed that it was much more complicated than the traditional card process.

However, after a few tests, it was established that withdrawing cash from ATMs through UPI apps was easier than using a debit card. Here are the steps you can follow to use UPI apps to withdraw cash.

How to use UPI apps to withdraw cash from ATMs?

Step 1: When a customer selects the 'UPI Cash Withdrawal' option on the ATM, he will be asked to enter the amount he wants to withdraw.

Step 2: After the customer enters the withdrawal amount, a unique dynamic QR code will appear on the ATM screen.

Step 3: To proceed with the transaction, the customer needs to use any UPI app to scan this QR code.

Step 4: After the scan, the customer needs to authorize the transaction by entering his UPI PIN on his mobile device using the UPI app to receive cash from the ATM.

Note: It may take around 30 seconds for your transaction to be processed, so, if there is a delay, don't panic.

UPI-ATM cash withdrawal transaction limit

A customer can withdraw a maximum of Rs 10,000 subject to the existing daily UPI transaction limits and terms and conditions of the specific bank. Users should note that such limits vary from bank to bank.

Benefits of UPI-ATM cash withdrawal

This facility is a very convenient way to withdraw cash as you do not need to carry a physical card. This service is available at most banks and ATMs that support the UPI platform. Another advantage is that, if you have not received your physical card even after opening a new account, you can easily use this facility to withdraw money.

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