How to withdraw cash from UPI ATM?

In an age where technology constantly revolutionizes our daily routines, banking has not been left behind. We often use UPI applications in our daily lives. Imagine a world where you can withdraw cash from an ATM without a debit or credit card. This innovative solution, called the UPI ATM, is here to simplify your cash withdrawal process. Utilizing the power of the Unified Payments Interface, this technology is set to change the way we handle money. Here, we will explore the step-by-step process of withdrawing cash from a UPI ATM.

Introducing UPI ATM

The UPI ATM is an advancement in banking that allows users to withdraw money without using a physical card. This technology is powered by the National Payments Corporation of India. It uses the UPI application, a widely adopted digital payment platform in India. The UPI ATM enables cardless cash withdrawals, making the process faster, safer, and more convenient. With UPI ATMs, you can use your smartphone to access cash directly from your bank account by scanning a QR code.

How to Withdraw Cash Using a UPI ATM?

Withdrawing cash from a UPI ATM is straightforward and user-friendly. Here is a detailed guide:

  1. Find a UPI-enabled ATM near you. At the ATM, select the “UPI Cardless Cash” option on the screen. This initiates the cardless withdrawal process.
  2. You will be prompted to enter the amount of cash you wish to withdraw. Carefully enter the desired amount and confirm.
  3. Open any UPI-enabled app on your smartphone, such as Google Pay, PhonePe, BHIM, or others.
  4. The ATM will display a QR code on the screen. Use your UPI app to scan this QR code. The QR code securely contains all the necessary information to process your transaction.
  5. After scanning the QR code, your UPI app will ask for confirmation. Enter your UPI PIN to authorize the transaction.
  6. Once the transaction is confirmed, the ATM will dispense the cash. Collect your money and confirm that the transaction has been completed successfully.

Key Features of UPI ATM

The UPI ATM offers several innovative features that make it a game-changer in banking:

Interoperability:

UPI ATMs can be used with any bank account linked to a UPI app, offering flexibility and convenience across different banks.

Transaction Limits:

You can withdraw up to ₹10,000 per transaction, adhering to existing UPI limits and issuer bank restrictions. The number of transactions may vary based on bank policies.

QR Code-Based Transactions:

QR codes ensure secure and efficient transactions, eliminating the need for a physical card and enhancing security.

Instant Dispensation:

The ATM instantly dispenses cash once the transaction is confirmed, saving you time and effort.

Single UPI App for Multiple Accounts:

Withdraw cash from multiple bank accounts using a single UPI app, streamlining the process and reducing the need for multiple cards.

To conclude

Utilizing the power of UPI and QR codes, this technology offers a convenient alternative to traditional ATM transactions. It has also changed the way we use net banking apps. If you are building an emergency fund or just need quick access to cash, the UPI ATM is here to help.

 

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