We are seeing a lot of innovations and features getting added to transaction services in India. And now, Govt of India has introduced a new method to withdraw cash from ATMs. Now, you can withdraw money from ATMs with your mobile phone only. There is no need to carry your cards anymore if you did not like that. Your mobile and a UPI app will be more than enough to withdraw cash from ATMs without the need of Credit, Debit or ATM Cards.
Problems of Using Cards at ATMs
From more than a decade, Indians are using ATM cards to withdraw money from ATMs. But there are several problems with that. In ATMs, there might be other persons too. So, there is always a risk of revealing your Card details or ATM PIN to others.
On the other hand, in the past few years, we have seen a lot of cases about ATM card copying/data-theft. Many bad people use to attach extra equipment at ATMs so that they can read other’s card details and make a copy of the card data; they can easily copy the Card strip data too. So, your money is not safe anymore.
But this new feature will allow you to use your smartphone and without any Credit, Debit or ATM card, you can quickly withdraw money from ATMs. However, the traditional method will be continued without any change.
Why Using UPI App at ATMs will be Safer than Using Cards?
I have already described why using Cards at ATM can risk your bank balance. Sometimes, there are too many scratches on your card which actually make it difficult for ATMs to read the data. Apart from that, we carry our smartphones more than we carry our cards, isn’t it?
Because Phones are closer to us than cards, it will be effortless to withdraw money whenever we want, even if we forget to carry our cards.
But, the most significant benefit is, your data will be secured 100%, and nobody will be able to know your any Card details such as card number, name on the card, CVV and ATM Pin. This feature will show up a QR code on the ATM’s screen, and you just need to scan it with your bank app installed on your Phone. That’s it. Your phone will automatically authenticate the request and money will start flowing from ATM. How cool is that!
UPI App ATM Withdrawal Process
You can easily use any UPI app and connect it to your UPI account. And then, it will be able to scan the QR codes given by the ATMs. UPI actually makes the bank integration part very easy and straightforward and you can start using this new feature almost instantly. Just visit an ATM, scan the QR code, enter the amount, withdraw money. That’s it.
How to Withdraw Money from ATM Using UPI App by Scanning a QR Code?
- First of all, visit your nearest ATM
- The ATM will show two option ‘with card’ or ‘without card’ transaction
- Select ‘without card’ option
- You will see UPI menu and the amount to be withdrawn
- Choose the amount and the ATM will display a QR code
- Use BHIM or other UPI Apps to scan the QR code
- Now confirm the transaction
- That’s it. The money will be withdrawn.
You will also receive an SMS from your bank confirming the transaction.
When you’ll be able to Use UPI App to Withdraw Cash?
Though the system has been already developed by AGS Transact Technologies, the feature hasn’t been launched yet. However, all the banks which are approached by this company, are excited about this feature. Once the National Payments Corporation of India (NPCI) approves it, you will be able to use this feature at your local ATMs.
So, what do you think about this new concept of withdrawing money from ATMs using mobile and UPI app without any cards? Will you become a fan of it? Or you’ll still like using Cards? Please let our readers know your views on this in the comment section below.