Cash withdrawn from QR code. Now you will be able to withdraw money from ATM by scanning the QR code. You will no longer need credit and debit cards to withdraw cash. Let us know what is its complete method.
Till now you used to scan the QR code in a shop or mall to make payment, but now you will be able to use QR code instead of ATM to withdraw cash. Yes, you can now withdraw cash using barcode.
You will not need an ATM card for this. Consumers will also be given this facility on their mobiles, after which they will be able to withdraw money from ATMs by scanning their QR code.
Actually, Reserve Bank of India (RBI) had given information about this (upi app to withdraw cash) a few months back. RBI had said that it is going to provide the facility of withdrawing money without a card.
In such a situation, now NCR Corporation, which provides software related facilities to the bank. It has started enabling ATM machines with UPI. Meaning that now the day is not far when you will be able to withdraw money from ATM without ATM card.
Debit card needed
Whenever you went to withdraw money from the ATM, it was very important to take you to the ATM. You could not withdraw money without entering a debit card and entering a PIN. But, now you just have to keep your mobile phone with you for this.
Just like you use QR code to make payment everywhere (shop/shopping mall), you have to do it to withdraw money from ATM.
what is the way
First of all, you have to reach the ATM machine and select the option of withdrawal cash. Then you have to select the UPI option on the ATM machine screen. After selecting this option, the QR code will appear on the ATM screen.
After this you have to scan the QR code. After this, you fill your amount (Rs 5000 – maximum) and enter the UPI PIN. After that you can withdraw money from the machine.
