UPI ATM Cash Withdrawal, Cardless Cash Withdrawals, How Does It Work?

UPI ATM Cash Withdrawal: Find out all the information about UPI ATM Cash Withdrawal right here. You can now withdraw money without an ATM card. Know how. UPI-ATM has been introduced as a White Level ATM (WLA) by Hitachi Payment Services in association with National Payments Corporation of India (NPCI). Located in Japan, Hitachi has a subsidiary called Hitachi Payment Services. Customers can withdraw cash from this Hitachi Money Spot UPI ATM without using a debit or credit card.

With UPI, or Unified Payments Interface, you can withdraw cash from an ATM without needing a physical debit card. Instead, you can simply use your smartphone and a UPI-enabled app to initiate the transaction. This not only eliminates the risk of losing or damaging your debit card, but also provides an extra layer of security since you don’t have to share sensitive card details at the ATM. The process is quick and hassle-free, allowing you to withdraw cash anytime, anywhere with just a few taps on your phone.

Cash withdrawal at UPI ATMs

In India, UPI ATM cash withdrawal has now been introduced. Without a debit card, you can use an ATM to withdraw cash. This UPI ATM was introduced by the Japanese company Hitachi. On September 5, 2023, the Global Fintech Fest 2023 in Mumbai featured a showcase of the Hitachi Money Spot UPI ATM. The NPIC has set a daily limit of Rs 10,000 for cash withdrawals from UPI ATMs. All banks also place restrictions on the amount of cash that can be withdrawn from ATMs. That is, the maximum amount of cash you can withdraw from an ATM varies by bank.

Here, we will talk about some of the top cash limit banks in the country. The daily cash withdrawal limit for Maestro or SBI Classic debit cards is Rs 20,000. The amount that can be withdrawn from the account connected to the PNB Classic Debit Card is a maximum of Rs 25,000. The Gold Debit Card account is linked to a daily cash withdrawal limit of 50,000 yen. Bank of Baroda BPCL Debit Card can withdraw up to 50,000 from DI Platinum MasterCard Debit Card in a single day.

UPI ATM Cash Withdrawal Overview

See also: Parshuram Jayanti 2023 परशुराम जयंती कब है?

UPI ATM Cash Withdrawal Charges

Will there be a separate fee if I use UPI to make an ATM withdrawal? The entire procedure is known from here. UPI ATM cash withdrawal fees may vary across banks. Currently, only a few banks offer this feature. Additionally, only RuPay debit card payments are accepted. MasterCard and Visa will eventually join this network. The question that remains is: Will there be a surcharge for using UPI to withdraw cash from an ATM?

The customer must first choose the UPI cash withdrawal option at the ATM before they can start withdrawing cash. Then, the customer must enter the withdrawal amount. Your bank account should contain this amount.

Read this: What time is the nearest grocery store open?

ATM Cash Withdrawal Process Using UPI

To do this, you must first decide how much money you want to withdraw from the ATM.
After that, the QR code of the selected amount will appear on the screen.
Now you have to use any UPI app on your phone to scan the QR code of the card.
To approve the transaction, you need to enter your UPI PIN on your mobile device.
The ATM will release money after receiving permission.

UPI ATM Cash Withdrawal App

Even without a debit card, you can withdraw money from ATMs on the UPI ATM Cash app. You will need to use a UPI based app for this. However, not all ATMs currently have access to this feature. You will be able to use the ATM cash withdrawal feature without any difficulty as soon as the UPI option is updated. You can do this using a variety of UPI apps including Google Pay, Paytm, Phone Pay and others. Those who have left their debit card at home unattended will benefit from this facility.

Click here: PMGC 2023 Final Winner

UPI ATM Cash Withdrawal Issue

Cash withdrawal from ATMs using UPI. If you are having trouble using UPI to withdraw cash from an ATM, we describe the entire process in this article. Simply follow the steps to successfully withdraw cash from an ATM.

How to use UPI to withdraw cash from ATM?

First go to a nearby bank ATM.
Next, choose the UPI Cash Withdraw option.
Enter the amount to be held at this time.
The ATM screen will then display the QR code.
Next, use a mobile device with a UPI-enabled app to scan the ICCW QR code.
Then, enter your UPI PIN.
After this, the ATM will release the cash.

Conclusion

UPI ATM Cash Withdrawal is a convenient and secure way to access cash from your bank account. With the growing popularity of UPI (Unified Payments Interface) in India, many banks now offer the option to withdraw cash from ATMs using UPI. This innovative feature allows you to simply scan a QR code displayed on the ATM screen with your UPI-enabled mobile banking app and enter the amount you wish to withdraw.

The transaction is completed instantly, without the need for a physical debit card or PIN. This not only eliminates the risk of card theft or theft, but also provides added convenience as you no longer need to carry your debit card with you. UPI ATM cash withdrawal is just another example of how technology is revolutionizing the way we conduct financial transactions, making them faster, safer and more convenient than ever.

UPI ATM Cash Withdrawal FAQs

Can I withdraw from ATM using UPI?

UPI ATM offers a significant advantage as it allows customers to withdraw cash from multiple UPI-linked accounts. Additionally, UPI ATM transactions are faster, more convenient and secure because each transaction generates a unique QR code that can only be used once, ensuring a secure banking experience.

How much cash can be withdrawn from UPI ATM in a day?

As per the Reserve Bank of India (RBI) guidelines, customers can make a maximum withdrawal of Rs 1 lakh per month using the UPI ATM. At Bank of Baroda (BOB), customers can make two cardless cash withdrawal transactions per day for each account, and each transaction is limited to Rs 5,000.

Can we withdraw cash from an ATM using GPAY?

If you have a payment app like Google Pay or Apple Pay®, you can make contactless cash withdrawals when the ATM supports this type of payment.

What is the daily spending limit for UPI?

NPCI has laid down guidelines for UPI transactions, which specify that people can make a maximum payment of ₹1 lakh per day using UPI. The UPI limitation ranges from smaller banks like Canara Bank, which allows transactions of up to Rs 25,000, to larger banks like SBI, which have set a limit of Rs 1 lakh.