United Payments Interface (UPI) has become one of the leading methods of payment in India. Launched in 2016, the system powers multiple banks accounts into a single mobile application. It facilitates the transfer of money and online payments. The UPI comes under the aegis of the National Payments Corporation of India (NPCI).
As a new feature, the NCR corporation has come up with a method to allow the withdrawal of money from the ATMs using UPI. The solution is called Interoperable Cardless Cash Withdrawal (ICCW). It can be used with major UPI apps like Google Pay, PhonePe, and Paytm, among others.
It will save a lot of hassle for the customers including the need to carry cards and remember their ATM PINs. Also, the only requirement is an ATM machine and a UPI-based app with an active internet connection. However, the upper limit of such withdrawal is Rs 5,000.
Here's how to Withdraw Money with UPI
- Visit the ATM machine and select the ‘Withdraw Cash’ option.
- Select the ‘UPI’ option from the ATM machine.
- A QR code will be displayed on the ATM screen.
- Open the UPI-based payment app on your device and open the QR code scanner.
- Once the code is scanned, you can enter the amount you want to withdraw. It must not be more than Rs 5,000.
- Now, enter the UPI PIN.
- Click on the ‘Hit Proceed’ button.
- The money will be withdrawn.
