Bank of Baroda on Monday announced launch of Interoperable Cardless Cash Withdrawal (ICCW) facility wherein a customer can withdraw cash using UPI from the bank's ATMs.
"The first public sector bank to launch this service, Bank of Baroda customers as well as customers of other participating issuer banks that use BHIM UPI, bob World UPI or any other UPI application enabled for ICCW on their mobile phone can withdraw cash from a Bank of Baroda ATM without using their debit card," the lender said.
On selecting the option 'UPI Cash Withdrawal' at a Bank of Baroda ATM, the customer needs to enter the withdrawal amount, post which a QR code is displayed on the ATM screen.
Explaining the process, the lender said the customer will scan the QR code using a UPI app enabled for ICCW and then authorise the transaction with her/his UPI PIN on the mobile phone to withdraw the cash from the ATM.
If multiple bank accounts are linked to a single UPI ID, ICCW functionality gives customers the option to select the account to be debited.
Akhil Handa, Chief Digital Officer at Bank of Baroda, said the new ICCW facility being offered by the bank gives customers the freedom to withdraw money without the use of a physical card - a simple, convenient and secure way to withdraw cash."
Customers can avail two transactions a day per account with a withdrawal limit of Rs 5,000 per transaction.
Bank of Baroda has over 11,000 ATMs across the country.