UPI ATM Cash Withdrawal is now available in India. You can get cash from an ATM without using a debit card. Hitachi, a Japanese business, has introduced this UPI ATM.
On September 5, 2023, the Hitachi Money Spot UPI ATM was unveiled at the Global Fintech Fest 2023 in Mumbai. The NPIC has set the UPI ATM Cash Withdrawal Limit at Rs 10,000 per day.
All banks place limits on how much money can be withdrawn from automated teller machines. That example, various banks have different limits on how much money you can withdraw from an automated teller machine.
We’re talking about the cash restrictions of some of the country’s biggest banks here.
The SBI Classic Debit Card or Maestro Debit Card has a daily cash withdrawal limit of Rs 20,000. A maximum of Rs 25,000 can be taken from the PNB Classic Debit Card account.
The daily cash withdrawal limit from the Gold Debit Card account is $50,000. The BPCL Debit Card from Bank of Baroda allows for 50,000 withdrawals per day, while the MasterCard DI Platinum Debit Card allows for 50,000 withdrawals per day.
Also read: UPI Lite now provides offline payments upto Rs. 500, RBI proposes AI powered payments.
UPI ATM withdrawal charges
Will there be any additional fees if I withdraw money from an ATM using UPI? From here, you can see the entire procedure. Banks may charge various fees for UPI ATM cash withdrawals.
This service is now provided in only a few banks. In addition, the service is only available with a RuPay debit card. MasterCard and Visa will gradually join this network.
The question now is if there would be an additional price for taking money from an automated teller machine using UPI.
To begin, when withdrawing cash from an automated teller machine , the consumer must select the UPI cash withdrawal option. The customer must then input the amount he wishes to withdraw. This amount must be in your bank account.
Process to ATM cash withdrawal using UPI
Step 1: First and foremost, choose the amount you wish to withdraw from the ATM.
Step 2: A QR code for the desired amount will then appear on the screen.
Step 3: Scan the QR card with any UPI app available on your mobile phone.
Step 4: To authorize the transaction, input your UPI PIN into your mobile device.
The automated teller machine will dispense cash once it has been authorized.
Problem With UPI ATM Cash Withdrawal
Withdrawing Cash from an automated teller machine Using UPI: If you are having trouble extracting UPI ATM cash, we have outlined the entire ATM cash withdrawal using UPI process in this article; by following the instructions, you may effortlessly withdraw ATM cash.
How to Withdraw Money from an ATM Using UPI
Step 1: First, go to an ATM at a neighboring bank.
Step 2: Select the UPI Cash Withdrawal option.
Step 3: Now enter the withdrawn amount.
Step 4: The QR code will now appear on the ATM screen.
Step 5: Scan the QR code for ICCW from your mobile device using the enabled UPI app.
Step 6: Next, input the UPI PIN.
Step 7: The cash will then be dispensed from the ATM machine.
App for UPI ATM Cash Withdrawal
Even if you do not have a debit card, you can withdraw money from UPI ATM Cash App machines. You will need to use a UPI-based app for this.
This feature, however, is not currently accessible on all bank machines. As soon as the UPI option in the bank machine is updated, you will be able to simply withdraw cash from the bank machine. You can use a variety of UPI apps for this, including Google Pay, Paytm, and Phone Pay. Those who have forgotten their debit card at home would benefit from this service.
