You can now withdraw cash from ATMs with out using the credit or debit card. Want to know how? You can accomplish that through UPI. Know how to make cardless cash withdrawals from ATMs using UPI.
Currently, cardless cash withdrawal by way of ATMs is obtainable by just a few banks for his or her clients at their very own ATMs. Banks that provide the cardless cash withdrawal by way of ATMs embrace State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, amongst others. Cardless cash withdrawal may help in containing frauds like skimming, card cloning, machine tampering, amongst others.
Meanwhile, it may be recognized that UPI is a system that powers a number of financial institution accounts right into a single cellular utility (of any taking part financial institution), merging a number of banking options, seamless fund routing and service provider funds into one hood. It additionally caters to the “Peer to Peer” acquire request which may be scheduled and paid as per requirement and comfort, in response to NPCI.
People are already using UPI fee making functions like Google Pay, PhonePe, Paytm, amongst others to make on-line cash transactions. All it’s essential have is a checking account, any of the UPI fee making functions put in in your smartphone, and a sound cellphone quantity.
Also, it must be famous that the central financial institution won’t cease issuing the credit card or debit card as these cards have many different utilities aside from cash withdrawals.