The Reserve Bank of India (RBI) has offered to withdraw cash from ATMs without a debit card. In that case, customers will be able to withdraw cash from ATMs through the Unified Payment Interface (UPI).
There is no clear notification on how to withdraw money from an ATM without a debit card. However, Sonali Kulkarni, head of Accenture India's financial services, explained two possible alternatives.
Here are two possibilities for how to withdraw cash from ATM without a debit card?
1st Possibility :
1) The customer has to give different information in the ATM machine.
2) ATM machine will give a QR code.
3) Customer will scan QR code using UPI app. Which will grant the customer's application.
4) Then the customer can take cash from ATM.
2nd Possibility :
1) First you have to put your UPI Id on the ATM. How much money to withdraw, it must be written in the ATM.
2) The phone that has the UPI app, will get a 'request'. Allow transactions using UPI passwords.
3) If that process is successful, cash will come out from the ATM.
Withdrawing money from banks and ATMs without a card is not new. At present, the service is available in only a handful of banks in the country. Banks that offer these services can withdraw cash without a card from the ATMs of that bank. Which will be introduced in all the banks of the country tomorrow.
With this feature, fraud can be stopped. It has been proposed to start the customer approval process through UPI to popularize cashless withdrawals from all banks and ATMs in the country. That transaction will be through an ATM network.