Bank of Baroda (Bank) has enabled the UPI ATM facility at its ATMs nationwide, this new facility will allow customers to withdraw cash without using a debit or credit card.
According to a Bank of Baroda press release issued on September 8, 2023, “It is the first Public Sector Bank to launch UPI ATMs, in co-ordination with the National Payments Corporation of India (NPCI) and powered by NCR Corporation. Bank of Baroda customers as well as customers of all participating issuer banks using any UPI-enabled Mobile app can withdraw cash from Bank of Baroda UPI ATMs without having to use their debit card.”
Using the Interoperable Cardless Cash Withdrawal (ICCW) technology, which facilitates cardless cash withdrawals through ATMs, the UPI ATM enables seamless QR-based cash withdrawals, doing away with the need to carry a Card to withdraw cash, stated the rele.
Who can use UPI ATM facility
Bank of Baroda customers as well as customers of all participating issuer banks using any UPI-enabled Mobile app can withdraw cash from Bank of Baroda UPI ATMs without having to use their debit card.
The UPI ATM provides seamless QR-based cash withdrawals, eliminating the need to carry a Card to withdraw cash, by utilising the Interoperable Cardless Cash Withdrawal (ICCW) technology, which facilitates cardless cash withdrawals through ATMs.
How to withdraw cash from a Bank of Baroda UPI ATM
The process to be followed to withdraw cash from a Bank of Baroda UPI ATM:
Step 1: Select the “UPI Cardless Cash” option on the ATM screen.
Step 2: Choose the cash withdrawal amount.
Step 3: Scan the QR Code displayed on the ATM screen using an UPI app.
Step 4: Select the bank account to be debited, if multiple bank accounts are linked to a single UPI ID
Step 5: Confirm the transaction using the UPI PIN and collect the cash.Customers can withdraw money from several accounts linked to UPI, which is one of the UPI ATM facility’s primary advantages. Due to the single-use dynamic QR code that is generated for each transaction and the assurance of a secure banking experience, UPI ATM transactions are also speedier, more convenient, and secure.
UPI-ATM (Interoperable Card-less Cash Withdrawal): How it works
According to the NPCI website, “Once the customer selects the option ‘UPI cash withdrawal’ at the ATM, customer shall be prompted to enter the withdrawal amount. After entering the amount, a single use dynamic QR code (signed) shall be displayed on the ATM screen. Customer needs to scan the QR code using any UPI APP* and authorize the transaction with UPI PIN on the mobile (UPI APP) to gcash from the ATM.”Some of the main features of the UPI-ATM (ICCW) service are as follows:
- Interoperable.
- Card-less Transaction.
- Transaction limit is up to ?10,000/- per transaction. It shall be part of the existing UPI per day limit and as per the limits set by Issuer Bank for UPI-ATM transactions.
- Convenience i.e. no need to carry card for ATM cash withdrawal.
- Can withdraw cash from multiple accounts using UPI APP.
