Seamlessly withdraw and transfer funds with your UPI account via ATMs

Cash withdrawals are becoming increasingly convenient, as innovative methods emerge. Rather than relying solely on debit cards, individuals can now collect cash from ATMs using UPI apps such as PhonePe and Paytm. Bank of Baroda is the first bank in India to introduce this facility, with others expected to follow suit soon.

Here’s how it works: At a Bank of Baroda ATM, choose the ‘Cardless cash withdrawal’ option and enter the desired amount. Scan the displayed QR code using any UPI app and send the money. Finally, press ‘Press here for cash’ to collect the currency from the ATM. If your UPI account is linked to multiple bank accounts, you can select the desired account for debiting the funds. The daily withdrawal limit is two transactions of Rs 5,000 each.

State Bank of India (SBI) account holders can also enjoy cardless cash withdrawals using SBI Yono or Yono Lite apps. The options available are QR Cash and Yono Cash. Other banks offer similar facilities through their respective apps.

For Yono Cash withdrawals: Open the Yono app, select ‘Yono Cash,’ enter the desired amount, and create a new six-digit PIN. You will receive a transaction number via SMS. Visit an SBI ATM within four hours, select the ‘Yono Cash’ option, enter the transaction number and PIN, and collect the cash.

For QR Cash withdrawals: Choose ‘QR Cash’ on the ATM screen, select the desired withdrawal amount (Rs 2,000 or Rs 4,000), and scan the displayed QR code using the ‘QR Cash Withdrawal’ option in the Yono Lite app. The ATM will then dispense the cash.