Bank of Baroda (BoB) has started the system of withdrawing cash from ATMs through UPI for the first time in public sector banks. Debit card will not be required for this.
Customers can withdraw money through the QR code displayed on the ATM. BOB said in a statement that it is the first public sector bank to offer cash withdrawal facility from ATMs through UPI.
The bank said that by availing its Interoperable Cardless Cash Withdrawal (ICCW) facility, customers of other participating banks using BHIM UPI and other UPI applications along with its customers will also be able to withdraw cash from ATMs. Customers will not need to use debit cards for cash withdrawal from Bank of Baroda (BoB) ATMs.
This is the process to withdraw money from UPI
To avail this service, the customer has to select the ‘UPI Cash Withdrawal’ option at the Bank of Baroda ATM. Then after entering the amount to be withdrawn, a QR code will be displayed on the screen of the ATM. This code needs to be scanned using the authorized UPI app for ICCW to authorize the transaction.
Transaction can be done twice in a day
The Bank’s Chief Digital Officer Akhil Handa said that the introduction of ICCW service will give customers the freedom to withdraw cash without using a card. At BOB ATMs, customers can do two transactions in a day and a maximum of Rs 5,000 can be withdrawn at a time.