A step-by-step guide on withdrawing cash from ATM using UPI apps

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

Many of us today are settling most of our purchases and transactions using the UPI payment mechanism. And now, one can even withdraw cash from ATMs without a debit or credit card, by using UPI apps such as Google Pay, Paytm, PhonePe.

After the Reserve Bank of India's (RBI's) proposal, the National Payments Corporation of India (NPCI) introduced a feature called Interoperable Cardless Cash Withdrawal (ICCW), which allows people to withdraw from ATMs using their UPI apps.

It should be noted that a cardless cash withdrawal facility using UPI is currently only available for select banks. The banks offering a cardless card withdrawal facility include the State Bank of India(SBI), HDFC Bank, and Punjab National Bank (PNB).

What do you need to withdraw cash from ATMs using UPI apps?

You need a bank account and UPI payment apps such as GPay, PhonePe, and BHIM linked with that account. You should also have an active internet connection.

How to withdraw cash from ATMs using an UPI app? Here's a step-by-step guide to do just that:

• Go to any ATM machine and choose the 'Withdraw Cash' option
• Select the UPI option on the ATM screen. A QR code will now be displayed on your ATM screen
• Now, open a UPI app, such as GooglePay or PhonePe and activate the QR code scanner
• Scan the QR code on the ATM screen from your selected UPI app
• After scanning the code, enter the cash amount you wish to withdraw. (You can withdraw up to Rs 5,000 in one transaction)
• Now, click on the proceed button and enter your UPI PIN to withdraw the money.

Withdrawing cash from ATMs without using debit or credit cards decreases the chances of transaction failure due to wrong PINs, or lost or stolen cards. That said, RBI Governor Shaktikanta Das has asserted that banks will not stop issuing debit cards following to the introduction of cardless cash withdrawal facilities at ATMs.