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Withdraw money from UPI ATM
UPI, or Unified Payment Interface, is a popular and super convenient way to make payments and transfer money instantly. Besides using UPI apps, you can also withdraw cash from an ATM with your UPI-linked bank account. This means you can skip carrying your debit or credit card and just bring your smartphone to the ATM. Just make sure you have a UPI app that supports ATM transactions, and you’re good to go!
Benefits of UPI ATM Cash Withdrawal
UPI ATM cash withdrawal comes with several advantages:
Enhanced Security
- With the Interoperable Cardless Cash Withdrawal (ICCW) process, you don’t need a card, which eliminates risks like card cloning and skimming. Transactions are secured with QR codes.
Accessibility
- This service is widely available across many banks and ATMs that support the UPI platform. It’s especially handy if you haven’t received your physical card yet after opening a new account.
Convenience
- No need to carry a physical card, so you avoid the hassle of losing or misplacing it. Just use your phone for cash withdrawals.
Multiple Accounts
- Unlike traditional ATM transactions where you’re limited to one account, UPI ATM transactions let you choose from multiple linked accounts. This flexibility makes it easy to withdraw money from any account you need.
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UPI ATM Cash Withdrawal Fees and Charges
The National Payments Corporation of India (NPCI) doesn’t charge any fees for using UPI for ATM transactions. However, the usual ATM fees still apply, based on your account type and the number of ATM transactions you make each month. This applies whether you use the UPI method or a physical card.
Want to Withdraw Money from a UPI ATM? Here’s How:
- Select ‘UPI Cash Withdrawal’ at the ATM.
- Enter the amount you want to withdraw.
- A unique QR code will appear on the ATM screen.
- Open any UPI app on your phone, scan the QR code, and authorize the transaction with your UPI PIN to get your cash.
