Withdrawing money from an ATM usually requires a debit card. However, banking needs have significantly transformed in a flexible and tech-savvy era. The traditional way of withdrawing cash without a debit card has been replaced by new means to meet these needs. State Bank of India (SBI), ICICI Bank and HDFC Bank have introduced a service that allows customers to transact at ATMs without needing a physical card. Here is how you can use this service:
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SBI
To initiate a cardless cash withdrawal from an SBI ATM, you need to log in to the YONO app and use the YONO Cash feature. Once logged in, click the YONO Cash option, then select ATM. Input the amount of money you wish to withdraw. The YONO app will send a cash withdrawal reference number to your registered mobile number. Visit a nearby SBI ATM or a YONO Cash Point. Select the ‘YONO Cash’ option on the ATM screen and input the reference number received on your mobile, followed by the cash withdrawal PIN set on the YONO App. The ATM will then dispense the cash.
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HDFC bank
Firstly, you need to add a beneficiary by logging into your HDFC Net Banking system, navigating to Funds Transfer, and then requesting to add a beneficiary. You want to send a cardless cash withdrawal request to this beneficiary. Fill in the necessary details, and enter the OTP received on your mobile after confirming them. The new beneficiary will be activated after 30 minutes for security reasons.
Request for cardless cash withdrawal through HDFC Bank NetBanking: After activating the beneficiary, you can request cardless cash withdrawal through HDFC NetBanking. Navigate to ‘Funds Transfer,’ click ‘Cardless Cash Withdrawal,’ then select the ‘Debit Account and beneficiary details.’ After verifying the beneficiary details, enter the amount to be transferred and confirm by inputting the OTP received on your registered mobile number.
A successful cardless cash withdrawal request will be valid for 24 hours from the time of creating the request. After the expiry of 24 hours, the request will be reversed.
Cash withdrawal from HDFC bank ATM by the beneficiary: Once the request is authenticated, the beneficiary will receive a 4-digit OTP and a 9-digit order ID via SMS. To withdraw the cash, the beneficiary must visit any HDFC Bank ATM, select the ‘Cardless Cash’ option, and enter the OTP, mobile number, order ID, and transaction amount. Upon validating the details, the ATM will dispense the cash.
However, HDFC imposes certain limits to ensure security and control misuse. The minimum transaction amount is Rs.100, and the maximum limit is Rs.10,000 per day or Rs.25,000 per month for each beneficiary.
ICICI Bank
Cardless Cash Withdrawal allows you to withdraw cash from an ICICI Bank ATM without using a debit card. It is a simple and convenient way to withdraw cash for unforeseen emergencies or even during normal times when your debit card is temporarily unavailable.
To avail of this service, you need to Log in to your ‘iMobile’ app on your smartphone. Select the ‘Services’ option. Under it, find and click on the ‘Cardless Cash Withdrawal’ option.
Now, enter the amount you want to withdraw (This must be within your withdrawal limit for the day). Next, enter a four-digit temporary PIN of your choice. Make sure to remember this PIN, as you will need it later. Confirm the transaction by clicking ‘Submit’.
The system will then SMS you a unique six-digit code. Go to the nearest eligible ICICI Bank ATM and key in this six-digit code along with the four-digit PIN you created earlier. The ATM machine will dispense the cash you requested when authentication is successful.
Remember, the one-time code is only valid for an hour, and the daily transaction is limited to Rs 20,000 only.
The primary objective of this feature is security. Since no card is used during the transaction, the chances of card-related scams are nullified. Only the customer who operates the YONO app can carry out a transaction, thereby ensuring absolute security.
