5 things to know about cardless cash withdrawal


1.Cardless cash withdrawals at ATMs is possible with the use of UPI and smartphones.

2.Customer needs to scan the QR code on the screen and authenticate using the UPI PIN.

3.It offers convenience as there is no need for a physical card.

4.It also prevents frauds caused by card skimming and card cloning.

5.Currently this service is offered by some banks for their customers only.

Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.



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