New Delhi: The card-less cash withdrawal facility is now offered by various banks. The facility gained momentum at a time when the country and the world are in the fury of a coronavirus pandemic, where most people do not want to get out of their homes and are doing more and more work at home. At such a time, a variety of requirements arose to withdraw money from ATMs, this facility gained more prominence. For this, all you have to do is install your bank’s mobile application on your phone.

However, in view of the safety of the people, various banks have now started offering this facility. SBI, ICICI Bank, Bank of Baroda, Axis Bank etc. are offering the facility of cardless cash withdrawal. Under this facility, cardholders can withdraw cash even without their debit card, but will have to use their phone. It is known that this facility is available only in one bank’s ATM, and this facility will not work in any other bank’s ATM.

 It is also said that the cardless cash withdrawal facility will also prevent online fraud incidents, as cash is withdrawn using mobile PIN / OTP.

How cardless withdrawal process works

The process of withdrawing cash from an ATM without using a debit card varies between banks. First, customers have to download the mobile application of their respective bank. If you are an SBI customer, it is available on the YONO app, Bank of Baroda has BOB MConnect plus and iMobile for ICICI Bank. If you are an SBI customer then go to ‘YONO cash option’, if you are from Bank of Baroda then go to ‘Cash on mobile’. If you are a customer of ICICI Bank, click on click on ‘card-less cash withdrawal’ option.

The bank will generate a one-time password (OTP) for the transaction, which will be messaged to your registered mobile number. For example, an OTP from Bank of Baroda is valid for 15 minutes. You have to use the OTP received at the ATM of the same bank to withdraw cash without using a debit card.

Transaction limit

The facility has a daily transaction limit, which allows withdrawals from Rs 5,000 to Rs 20,000. It varies between banks. For example, you can withdraw up to Rs 5,000 from Bank of Baroda ATM and up to Rs 20,000 from SBI ATM. Please tell that some banks also charge extra.