New Delhi :
Last week, RBI Governor Shaktikanta Das announced a groundbreaking proposal for UPI users, aiming to enable cash deposits through UPI Apps on mobile phones.
This visionary move eliminates the need for debit cards at Cash Deposit Machines (CDMs) in banks, streamlining the cash deposit process seamlessly.
But did you know you can also withdraw cash from ATMs using UPI? Here’s all you need to know about this convenient facility.
UPI ATM Cash Withdrawal Overview:
Introduced in September last year, UPI-ATM enables cash withdrawal from ATMs without the need for an ATM/debit card.
Users can withdraw funds from various bank accounts using UPI by simply scanning a QR code.
Withdrawal Limit:
The UPI ATM Cash Withdrawal allows users to withdraw up to Rs 10,000 from ATMs.
It’s essential to adhere to your bank’s daily UPI transaction limit and other applicable conditions.
How to Withdraw Cash from ATM through UPI:
Follow these steps to withdraw cash from an ATM using UPI:
- Visit any ATM and select the ‘UPI cash withdrawal at the ATM’ option.
- Enter the desired withdrawal amount.
- A dynamic QR code will appear on the screen.
- Scan the QR code using any UPI app on your phone.
- Enter your UPI PIN for authentication.
Upon successful authentication, the ATM will dispense your cash.
Fees and Charges:
NPCI (National Payments Corporation of India) does not levy any charges on ATM Cash Withdrawal via UPI.
However, standard bank charges for other ATM transactions apply.
