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