Bank of Baroda, a prominent public lender, has recently launched the Interoperable Cardless Cash Withdrawal (ICCW) facility for its customers. This innovative service allows customers to withdraw money from ATMs using the United Payment Interface (UPI), eliminating the need for a physical card. The introduction of UPI cash withdrawal at ATMs offers a simple, convenient, and secure way for customers to access their funds. Let’s explore the details of this new facility below.
Bank of Baroda’s UPI cash withdrawal facility enables customers to perform cash withdrawals without a physical card. Here are the steps involved:
Selection of ‘UPI Cash Withdrawal’ Option: Customers need to select the ‘UPI Cash Withdrawal’ option on the ATM screen after inserting their debit card.
QR Code Generation: After entering the withdrawal amount, a QR code will appear on the ATM screen.
QR Code Scanning and Authorization: Customers can use a UPI app enabled for ICCW on their mobile phones to scan the QR code. By authorizing the transaction with their UPI PIN on the mobile phone, they can initiate the cash withdrawal from the ATM.
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The ICCW facility introduced by Bank of Baroda offers several advantages to customers:
Bank of Baroda has set certain limits and availability guidelines for the UPI cash withdrawal facility:
Transaction Limit: Customers can avail themselves of two transactions per day, per account, with a withdrawal limit of Rs 5,000 per transaction.
Wide ATM Network: Bank of Baroda operates a vast network of over 11,000 ATMs across India, ensuring accessibility and convenience for customers across various locations.
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