How to withdraw money from account without debit card

Ways to withdraw cash without an ATM or Debit Card

Table of Contents Show

Key Takeaways
Cardless Withdrawals at ATM
How To Withdraw Money from ATM Without Card
Cardless Cash Withdrawal by Beneficiaries
Cardless Withdrawal at Local Stores

Key Takeaways

Cashless Card Withdrawal enables you to withdraw money without ATM-cum-debit cards.
You can use net banking for cashless withdrawals at ATMs.
You can also allow beneficiaries to withdraw cash with cardless withdrawals.
You must use the tentative OTP or PIN to withdraw money from ATMs.
Some banks let you withdraw money at affiliated local stores.

Most banking transactions in the modern era have become cashless as banks are ushering into the digital age. Today, you can use debit cards and credit cards to access funds in your account. Banks also permit cardless cash withdrawals at ATMs. This article explains cardless cash withdrawals and the process to go about it. Read on to know more.

Cardless Withdrawals at ATM

Cardless cash withdrawals without ATM Debit cards allow you to access funds in your account if you do not have your ATM card handy. As long as you have activated internet banking and downloaded the bank’s mobile banking app of your bank on your smartphone, you can withdraw cash from ATMs without the card.

Download digibank Now

How To Withdraw Money from ATM Without Card

Following are the standard steps on how to withdraw money from ATM without card.

Log into your bank’s internet or mobile banking
Select the option of cash withdrawal at the ATM.
Enter the amount you wish to withdraw and continue.
You will receive a one-time password or a transaction ID on your registered mobile number.
Visit your nearest bank ATM and select the cardless cash withdrawal option on the ATM screen.
Select your mobile number and enter the OTP or the transaction ID received on the registered mobile number.
Enter the amount and withdraw the cash.

Cardless Cash Withdrawal by Beneficiaries

You can also provide access to beneficiaries to withdraw funds. Below are the steps:

Log in to your net banking account and set up the fund transfer request.
Add the beneficiary details and go to cardless cash withdrawal.
Reconfirm the details by entering the OTP sent on your RMN and wait for the beneficiary details to be activated.
The beneficiary receives an OTP and order ID via SMS ID on their RMN
The beneficiary can now visit an ATM, select the cardless cash option and enter the OTP, order ID and their mobile number, along with the cash withdrawal amount.
The ATM validates these details and disburses the cash.

Cardless Withdrawal at Local Stores

Some banks let you withdraw cash at local stores too. Here are the steps:

Log in to net banking and select cardless cash withdrawal at a local shop.
Enter the amount and generate a temporary PIN.
Enable your mobile GPS, and the bank will show you the affiliated merchant stores.
Select your preferred store, and you will receive a unique identifier on the RMN.
Visit the merchant store and provide the PIN and other details.
The merchant will validate your transaction and dispense the withdrawal amount.

Final Note

Cardless cash withdrawal is a unique facility that allows you to access cash without bank cards. It also enables you to ensure that your intended beneficiaries can receive funds quickly. You can visit your nearest ATM or designated grocery store to get the cash speedily.

Are you looking for a smart mobile banking app? Download digibank by DBS and explore a world of banking facilities in a few swipes and even you can open bank account online with us.

Download digibank Now

*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.

Premium At present, cardless cash withdrawal through ATMs is limited only to a few banks. (iStock) 1 min read . Updated: 14 Apr 2022, 12:46 PM IST

Under the cardless cash withdrawal facility, a customer is not required to use his/her debit or credit cards while withdrawing cash from ATMs

The Reserve Bank of India (RBI) has proposed to make cardless cash withdrawals available at all ATMs, through the Unified Payment Interface (UPI). "It is now proposed to make cardless cash withdrawal facility available across all banks and ATM networks using the UPI," RBI Governor Shaktikanta Das said in his first monetary policy statement for the financial year 2022-23.

What is cardless cash withdrawal?

Under the cardless cash withdrawal facility, a customer is not required to use his/her debit or credit cards while withdrawing cash from ATMs.

While there is no clarity on how the process will work, Sonali Kulkarni, Lead for Financial Services, Accenture in India said ATMs soon will show an option to withdraw cash using UPI

How will cash withdrawals via UPI work?

Sonali Kulkarni has explained some scenarios of how card-less, UPI enabled ATM withdrawals could take place.

Option 1

Customer enters details of request on ATM terminal
ATM generates QR code
The customer scans the QR code using the UPI app and approves the request
ATM dispenses the cash

Option 2: Touchscreen ATMs

User to enter UPI ID and withdrawal amount in an ATM terminal
The user gets a request on a UPI cell phone app, approves the transaction using the existing UPI app password
Post successful authentication, cash is dispensed at the ATM

Which banks have a cardless cash withdrawal facility?

At present, cardless cash withdrawal through ATMs is limited only to a few banks. State Bank of India (SBI), HDFC Bank, ICICI Bank and Punjab National Bank (PNB) are among the few to offer this facility.

Will debit cards become obsolete?

Cashless ATM cash withdrawals will find user uptake, we expect the usage and growth of debit cards to remain stable. Debit cards are unlikely to become obsolete as they have a number of other applications besides ATM withdrawals – such as enabling overseas transactions and enabling ATM cash withdrawals when one’s phone is switched off or in a location where mobile internet connectivity is poor, said Sonali Kulkarni.

Cardless cash withdrawal: What does it mean for customers?

According to Sonali Kulkarni, banks will need to spend on upgrading ATM software and creating other payments infrastructure, which could potentially lead to additional fees being levied on customers.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.