Don't have a debit or credit card? Here's how to withdraw cardless cash from ATM

Currently, only a few banks, including ICICI and HDFC, enable cardless cash withdrawals at their ATMs. 

New Delhi: The Reserve Bank of India (RBI) has mandated all banks, ATM networks, White Label ATM Operators (WLAOs), and ATMs across the country to provide Interoperable Card-less Cash Withdrawal (ICCW) services. Everyone will be able to withdraw cash from ATMs without using debit or credit cards once the option is available to all banks.

RBI has also urged the National Payments Corporation of India (NPCI) to promote Unified Payments Interface (UPI) connection with all banks and ATM networks to aid in transaction authentication. "All banks, ATM networks, and WLAOs may offer ICCW at their ATMs.The NPCI has been advised to enable Unified Payments Interface (UPI) connectivity with all banks and ATM networks," the RBI stated in a recent circular.

The central bank went on to say that while UPI will be used for customer authorization, settlement will be handled through the National Financial Switch (NFS) or ATM networks. "On-us / off-us ICCW transactions should be conducted without the imposition of any costs other than those prescribed under the Interchange Fee and Customer Charges Circular," the circular stated.

The withdrawal limitations will be consistent with the limits for ordinary on-us and off-us ATM withdrawals, according to the central bank. "All other instructions including Harmonisation of Turn Around Time (TAT) and consumer compensation for unsuccessful transactions must remain in effect," the circular stated.

Currently, only a few banks, including ICICI and HDFC, enable cardless cash withdrawals at their ATMs. As time goes on, all other banks in the country will allow consumers to withdraw money from ATMs without using their debit or credit card. Let's take a look at how to withdraw money from an ATM without using a debit or credit card.