We’ve all been in situations where we need cash but don’t have our ATM card with us. Luckily, UPI has come up with a solution that lets you withdraw money from an ATM without needing your card.
UPI, short for Unified Payments Interface, is a magic tool for your smartphone. It lets you easily send and receive money using your phone, making transactions super convenient.
In this article, we’ll show you how to use UPI to take out cash from an ATM. This way, if you ever find yourself without your card or wallet, you’ll still know how to get your money out effortlessly.
ATM Withdrawal With UPI – How To?
You can easily take out cash using your favorite UPI app when you find an ATM that works with UPI. Just follow these steps:
- On the ATM screen, choose either “UPI Cash Withdrawal” or “UPI Cardless Cash” from the options.
- Type in the amount you want to withdraw, which can be in increments of 100, 500, 1,000, 2,000, or 5,000 rupees, depending on the ATM.
- The ATM will generate a one-time QR code for the chosen amount.
- Now, use any UPI app on your iPhone or Android phone to scan the QR code.
- Confirm the transaction by entering your UPI PIN.
- The ATM will dispense your cash, and you’ll receive a confirmation notification in your UPI app.
- Don’t forget to grab your cash before leaving the ATM kiosk.
What is the difference between UPI ATMs and cardless cash withdrawals?
UPI cash withdrawal is like cardless cash withdrawal, but it uses OTPs for verification instead of phone numbers.
Scan the displayed QR code with your smartphone to access UPI ATM features. Watch a video example on Union Minister Piyush Goyal’s X (formerly Twitter) account.
Your UPI app allows easy switching between accounts, and the maximum withdrawal limit from UPI ATMs is Rs 10,000. Be mindful, as it counts towards your daily UPI transaction limit when you withdraw cash from ATMs.
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Withdrawal features of UPI ATMs
Here are the main features of this service:
- Allows cardless transactions effortlessly.
- No need to carry debit or credit cards for ATM withdrawals.
- Users can withdraw money from multiple accounts using the UPI app.
- There’s a Rs. 10,000 transaction limit, which may vary by bank. This is part of the daily Rs. 1 lakh total transfer limit through UPI.
- Enhanced security with two-step verification to prevent fraudulent transactions.
Conclusion
In this article, we’ve explored the secure and convenient method of using UPI to withdraw cash from an ATM.
Simply locate a UPI-compatible ATM, select “UPI cash withdrawal,” and scan the QR code on the ATM screen using your UPI app. Your cash will be in your hands within minutes.