Mumbai, January 21: India's premier private bank ICICI on Tuesday announced the launch of a 'cardless cash withdrawal' facility from its ATMs. Under this scheme, the customers will be able to withdraw cash from any ICICI Bank ATM without a debit card 24X7. SBI to Introduce OTP-Based Night-Time ATM Transactions From January.
Here are few steps through which a bank customer can withdraw cash without his or debit card:
1) ICICI bank customers need to install its mobile app -- iMobile.
2) Login into the mobile app.
3) The customer should select 'Services' section and 'Cash Withdrawal at ICICI Bank ATM' subsequently.
4) The bank customer then needs to select the account number, enter the amount and create a 4 digit temporary PIN and then click submit.
5) Following this, the customer will receive a reference OTP ( One Time Password).
6) Then the customer needs to visit any ICICI Bank ATM and select cardless cash withdrawal.
7) The 10-digit mobile number needs to be inserted, with reference OTP and temporary PIN.
8) After all of this, the customer needs to enter the amount to be withdrawn. One needs to remember that the OTP and cash withdrawal request are valid upto next day midnight. New Rules for Financial Transactions Involving Debit Cards and Online Transfers Issued by RBI for New Year 2020.
Advantages of cardless cash withdrawal facility:
1) No requirement to carry and use debit card or ATM PIN to withdraw cash for daily usage.
2) Facility is available across all over 15,000 ICICI Bank ATMs.
3) The daily transaction limit as well as per transaction limit is set at Rs 20,000.
4) The cardless cash withdrawal facility is safe and secure mode of cash withdrawal using ICICI mobile app, say the officials.
Elaborating more, Anup Bagchi, Executive Director of ICICI Bank Anup Bagchi said, as quoted by LiveMint, "The offering of ‘cardless cash withdrawal’ from iMobile enables our customers to withdraw cash securely and conveniently for everyday usage and purchases, all from the convenience of their mobile phone. We believe that this proposition of cash withdrawal from an ICICI Bank ATM without using a debit card offers a speedy and unique experience to our customers."