Customers get two transactions per day in one account with a withdrawal limit of Rs 5,000 per transaction.
Bank of Baroda on Monday announced a new service called Interoperable Cardless Cash Withdrawal (ICCW) that allows customers to withdraw cash from the bank’s ATMs using UPI (Unified Payment Interface). With this, Bank of Baroda became the first public sector bank to introduce this service. With this, customers will get two transactions a day in one account with a withdrawal limit of Rs 5,000 per transaction.
This facility is not limited to Bank of Baroda customers; Customers of other partner issuer banks using BHIM UPI, bob World UPI or any other UPI application enabled for ICCW on their mobile phones can also withdraw money from Bank of Baroda ATMs without using their debit cards.
“Customers of Bank of Baroda, the first public sector bank to launch this service, and customers of other participating issuer banks who use BHIM UPI, bob World UPI or any other UPI application enabled for ICCW on their mobile phone can withdraw money from a Bank of Baroda ATM without using their debit card,” Credit The giver said.
To avail this service, customers need to select the ‘UPI Cash Withdrawal’ option at a Bank of Baroda ATM and enter the desired withdrawal amount. Then, a QR code will be displayed on the ATM screen. The customer must use an ICCW-enabled UPI app to scan the QR code and authorize the transaction by entering the UPI PIN on their mobile phone. This process helps to withdraw money from ATM.
If a single UPI ID is linked to multiple bank accounts, the ICCW functionality allows customers to select the account from which the amount will be debited.
Akhil Handa, Chief Digital Officer, Bank of Baroda, said the new ICCW facility offered by the bank gives customers the freedom to withdraw money without using a physical card – a simple, convenient and secure way to withdraw money.
Bank of Baroda operates more than 11,000 ATMs across India.