Don't have a debit or credit card? Here's how to withdraw cardless cash from ATM

New Delhi: The Reserve Bank of India (RBI) has mandated all banks, ATM networks, White Label ATM Operators (WLAOs), and ATMs across the country to provide Interoperable Card-less Cash Withdrawal (ICCW) services. Everyone will be able to withdraw cash from ATMs without using debit or credit cards once the option is available to all banks.

RBI has also urged the National Payments Corporation of India (NPCI) to promote Unified Payments Interface (UPI) connection with all banks and ATM networks to aid in transaction authentication. "All banks, ATM networks, and WLAOs may offer ICCW at their ATMs.The NPCI has been advised to enable Unified Payments Interface (UPI) connectivity with all banks and ATM networks," the RBI stated in a recent circular.

The central bank went on to say that while UPI will be used for customer authorization, settlement will be handled through the National Financial Switch (NFS) or ATM networks. "On-us / off-us ICCW transactions should be conducted without the imposition of any costs other than those prescribed under the Interchange Fee and Customer Charges Circular," the circular stated.

The withdrawal limitations will be consistent with the limits for ordinary on-us and off-us ATM withdrawals, according to the central bank. "All other instructions including Harmonisation of Turn Around Time (TAT) and consumer compensation for unsuccessful transactions must remain in effect," the circular stated.

Currently, only a few banks, including ICICI and HDFC, enable cardless cash withdrawals at their ATMs. As time goes on, all other banks in the country will allow consumers to withdraw money from ATMs without using their debit or credit card. Let's take a look at how to withdraw money from an ATM without using a debit or credit card.

Here’s how to withdraw cash without using the card:

To use this facility, one must first request that the bank enable it. This is how you do it (for ICICI bank):

-Navigate to the Services section of the ICICI Bank mobile app.

-Select the option for Cardless cash withdrawal.

- Enter the amount, then the 4-digit temporary PIN, and then the account number from which you want to withdraw funds.

-You must then confirm the information presented on the pre-confirmation screen.

-Select the submit option.

When the facility is successfully activated, the bank will send you a message with a unique 6-digit code to the registered mobile number. The code will only be valid for up to six hours. The following steps must be taken:

-Visit your local bank ATM (ICICI bank ATM in this example) and enter information such as your registered mobile number, the temporary 4-digit code you set, the 6-digit code you received via SMS, and the withdrawal amount.

-After these data have been verified, cash will be dispensed from the ATM.