Since decades, we are using our ATM cards to withdraw cash from ATMs. But, after the demonetization, things are changing rapidly, and we see various new methods and processes to manage money. The latest innovation happened in ATMs. Now you can withdraw cash from ATMs without any ATM card. Your smartphone is enough for that. So, in this article, we will completely describe the whole matter and show you how to withdraw cash from ATM using QR code without any Credit or Debit card.
Withdraw Cash from ATM Without Debit Card
Many of the time, we forget to carry our credit or debit cards and then become unable to withdraw cash from the ATM. But from now, our smartphone will be more than enough to finish that task. Now you do not need to carry your cards, just generate QR code and withdraw money from the ATMs. You will only need an internet connection and your banking app. In a few years, smartphones may completely replace the Point of Sale machines. You can now even make payment using Bharat QR Code without swiping your card at the POS machine.
Latest Update: AGS Transact will launch UPI QR Based cardless withdrawals once the NPCI gives its approval.
How to Withdraw Cash from ATM Using QR Code?
Note: The process is in development till now. Once the special mechanism is added to all or most of the ATMs across the country, you will be able to withdraw cash from ATMs without using your debit card by following the steps given below:
- First of all, take your smartphone and turn on data connection.
- Download the banking app provided by your bank from Google Play Store or iOS App Store.
- Open the app and sign in or sign up with all the required details.
- Generate the QR code option ready for use.
- Visit any ATM kiosk near you when you need to withdraw cash.
- Open your bank app and generate the QR code after entering the amount you want to withdraw.
- You may also get the option to choose the specific currency notes before creating the QR code on the banking app.
- Once the QR code is visible on your screen, place your phone in front of the scanner that is attached to the ATM.
- ATM will scan the QR code.
- After validating the transaction, cash will come out from the ATM.
- Hurry! You are just withdrawn cash from ATM without any card.
Benefits of Using QR Code on ATMs
There are several benefits one gets using this feature. Previously, a card was mandatory to withdraw cash from ATM. But now, you do not need to carry the card. Smartphones always stay with the users. So, nothing else is required to withdraw money. Plus this feature secures your ATM transactions because you do not need to enter any ATM PIN so you can keep it private. Apart from that, your card details also remain private as those are not used here.
On the other side, a few weeks ago, we heard about the card swiping mechanisms which were used to create a duplicate copy of user’s card details from ATMs to harm users by the burglars. But when you use QR code, there is no chance of revealing your private data such as card number, CVV, Validity date or ATM pin. So, it becomes the safest way as well to withdraw money from ATMs.