Card-less ATM Withdrawal
Benefits Of Card-less ATM Cash Withdrawal
The new feature will not only make withdrawal easy, but it will also ensure that the transaction takes place securely as it will prevent skimming frauds.
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This simplified banking method enables customers to access cash without a debit or credit card.
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The Cashout PIN, valid for 24 hours, offers protection against hackers, ensuring a safe and secure transaction.
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It also helps customers avoid the hassle of immediately replacing a lost ATM card and the risk of scammers and hackers stealing their bank details.
How It Works
Once rolled out, the working of the QR-based withdrawal of cash from ATMs will be similar to paying of cash to a merchant by scanning a code.
Steps to carry out Cardless Withdrawal
1) Dial the bank's code on your mobile phone or use the bank's mobile app.
2) Enter the amount you want to withdraw and create a one-time PIN.
3) You will receive a code via SMS that you will use to withdraw cash from an ATM.
4) Go to the ATM with a cardless withdrawal feature and follow the on-screen prompts.
5) Enter the code you received via SMS, your one-time withdrawal PIN, and the requested amount.
6) Collect your cash and receipt.
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