In today's fast-paced world, convenience is key, and UPI ATM cash withdrawal offers just that. Whether you're in a hurry or simply want to avoid carrying your Debit Card, this method provides a seamless and secure way to access cash.
Understanding UPI ATM cash withdrawal
The UPI ATM cash withdrawal system transforms how you access money by enabling the use of your UPI-enabled mobile app instead of a physical Debit Card. This service links your bank account directly to the ATM through your UPI ID, allowing quick and secure cash withdrawals.
Benefits of using UPI for ATM cash withdrawal
Leveraging the UPI withdrawal method at ATMs offers several advantages. Here’s why you should consider it:
Enhanced security features
One of the most significant benefits of UPI ATM cash withdrawal is the enhanced security it provides. By eliminating the need for a physical card, you reduce the risk of card theft or skimming. Additionally, since the transaction is initiated and authorised directly from your UPI app, there’s no need to enter an ATM PIN, further minimising the risk of fraud. The use of QR codes and UPI PINs adds multiple layers of security to every transaction.
Convenience and ease of use
The convenience of UPI ATM withdrawal cannot be overstated. With this method, all you need is your smartphone and a UPI-enabled app. There's no need to carry a wallet full of cards or worry about losing them. The process is quick, allowing you to withdraw cash in just a few steps, and it can be done at any participating ATM across the country. This makes it ideal for those who prefer digital transactions but occasionally need to withdraw cash.
Reduced need for physical Debit Cards
As digital payments become more prevalent, the reliance on physical debit cards is diminishing. UPI cash withdrawal supports this trend by offering a card-free alternative to accessing cash. This not only reduces the need to carry multiple cards but also decreases the chances of misplacing or damaging them. Moreover, it supports the growing movement towards a more digital and eco-friendly banking environment.
How to withdraw cash using UPI at ATMs
Step 1: Initiate the transaction at the ATM
Begin your UPI ATM withdrawal by visiting an ATM that supports UPI. On the ATM screen, select the option for UPI cash withdrawal. This action will prompt the machine to display a QR code, which is essential for completing the transaction. Make sure you have a UPI-enabled app installed.
Step 2: Scan the QR code with your UPI app
Open your UPI app and choose the option to scan a QR code. Position your phone's camera over the QR code displayed on the ATM screen. This action links your UPI account with the ATM, preparing it for the cash withdrawal process.
Step 3: Enter the amount and confirm via UPI PIN
After scanning the QR code, enter the amount of cash you wish to withdraw directly in your UPI app. Ensure that the amount does not exceed the daily withdrawal limit of your bank. Once you've entered the amount, the app will prompt you to enter your UPI PIN. This step serves as an additional layer of security, ensuring that only authorised transactions are processed.
Step 4: Collect the cash
Once the UPI PIN is verified, the ATM will dispense the cash you requested. This final step in the UPI cash withdrawal process is quick and efficient, allowing you to collect your money without the need for a physical card. The transaction will also be immediately reflected in your UPI app, offering you a real-time update on your account balance.
Also Read: What are the charges for UPI transaction?
Conclusion
The UPI ATM cash withdrawal process is a secure way to access your money. It eliminates the need for physical Debit Cards and offers a seamless experience at ATMs nationwide. Whether you're a frequent traveller or just looking for more convenience, UPI ATM withdrawal is valuable.
With the Axis Bank’s Mobile Banking app, open, you can effortlessly carry out UPI transactions, including cash withdrawals, making your banking experience more seamless and card-free.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
