RBI Notifies Banks And ATMs To Provide Card-less Cash Withdrawal Facility

The apex bank proposed to allow interoperability in card-less cash withdrawal transactions at all banks and ATMs in its monetary policy review meeting held in April

learn more about Teena Jose

By Teena Jose


Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The Reserve Bank of India (RBI) on Thursday asked all banks to provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMs.

"All banks, ATM networks and White Label ATM Operators (WLAO) may provide the option of ICCW at their ATMs. NPCI has been advised to facilitate UPI integration with all banks and ATM networks. The on-us or off-us ICCW transactions shall be processed without levy of any charges other than those prescribed under the circular on interchange fee and customer charges," stated RBI in a notification issued on 19 May.

RBI had proposed to allow interoperability in card-less cash withdrawal transactions at all banks and ATMs in its monetary policy review meeting held in April 2022.

RBI governor, Shaktikanta Das, in a news report was quoted as saying, "To enhance the ease of transactions, the absence of the need of physical cards for such transactions would reduce fraudulent practices, such as card skimming, card cloning, etc."

According to the RBI's statement on Developmental and Regulatory Policies released on April 8, "To encourage card-less cash withdrawal facility across all banks and ATM networks, it is proposed to enable customer authorization through the use of UPI. Separate instructions would be issued to NPCI, ATMs and banks shortly."

Currently many banks offer the facility of card-less cash withdrawals at their own ATMs. According to HDFC guidelines, the card-less cash withdrawal limit is for a minimum of INR 100 per transaction and up to a maximum of INR 10,000 per day and INR 25,000 per month, whereas State Bank of India (SBI) customers can withdraw a minimum of INR 500 and maximum of INR 10,000 in a single transaction from SBI ATMs.

About card-less cash withdrawal facility

A card-less cash withdrawal facility enables a bank customer to withdraw money without debit or credit cards from ATMs. You can use net banking for cashless withdrawals. The system is presently available at various banks. This facility was implemented mainly during the COVID-19 pandemic.

How to make a card-less cash withdrawal from an ATM?

For this, you need to first download the respective bank's mobile app from play store or app store. Once you have downloaded, visit your nearest bank ATM and select the card-less 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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics


Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.


The Greasy, Glamorous Rise of Mascara

You won't believe the grimy gunk people used to smear on their eyelashes -- and still do.

Starting a Business

5 Things I Wish I Knew Before Founding My Own Company

It's nearly impossible to know everything before starting a company, but here are five essentials I wish I knew before founding my own.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.


Here's the Simple, Winning Strategy You Need to Build a High-Performing Team

Want to form a solid team that will work hard to promote the business' success? Here's what you need to do.

Business Ideas

How to Make Thousands of Dollars on the Side As a Virtual Assistant

Apply your skills and experience to create a lucrative virtual assistant side hustle or full-time business.