Bank of Baroda has launched Interoperable Cardless Cash Withdrawal Service. Through this facility, customers will be able to withdraw cash from ATMs through the UPI app.
Banking News: Bank of Baroda, one of the major public sector banks in India, has started a new ATM related service. Through which customers will be able to withdraw cash from ATMs through Unified Payments Interface (UPI) without a debit card. The name of this service is Interoperable Cardless Cash Withdrawal. With this, BOB has become the first public sector bank to provide this facility.
Cash withdrawal limit
This facility will be beneficial for BHIM UPI users and customers using other UPI applications. They will be able to withdraw cash without just scanning the debit card. However, a limit has also been set for the transaction. According to the Chief Digital Officer of BOB, customers will be able to withdraw money twice a day through the ICCW facility. Also, withdrawal will be allowed only up to Rs 5000 at a time.
Will work like this
Debit card will not be required to avail the ICCW facility. For this, while withdrawing cash from any Bank of Baroda ATM, the option “UPI Cash Withdrawal” has to be selected. Then a QR code will appear on the ATM screen, scan it with your UPI app and enter the PIN. Then enter the amount.
