Hindi NewsBusinessBank Of Baroda Launches Facility For Cash Withdrawals Using UPI On Its ATMs
New DelhiOne hour in the past
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Bank of Baroda (BOB) on Monday (June 5) announced the launch of a new service called Interoperable Cardless Cash Withdrawal (ICCW). Through this new service, customers of the bank can withdraw cash from BOB ATMs using Unified Payments Interface (UPI).
Can withdraw a maximum of ₹ 10,000 in a day
Bank of Baroda has become the first public sector bank to offer cash withdrawal service through UPI. Using this service, the customer can transact from his account only 2 times in a day. The bank has kept a transaction limit of Rs 5,000 under this service. That is, the customer can withdraw a maximum of Rs 10,000 by doing 2 transactions from this service in a day.
This facility is not limited to Bank of Baroda customers only. Customers of other banks using BHIM UPI, Bobworld UPI and any other UPI app enabled for ICCW facility on their mobile phones can also withdraw cash from Bank of Baroda ATMs without using their debit cards Are.
Bank of Baroda has more than 11,000 ATMs in India
Akhil Handa, Chief Digital Officer, Bank of Baroda said that the new ICCW facility being introduced by the bank gives customers the freedom to withdraw money without the use of physical cards. It is a simple, convenient and secure way to withdraw cash. Bank of Baroda has more than 11,000 ATMs across India.
The Reserve Bank of India (RBI) has asked banks to make ICCW option available through ATMs to prevent card frauds like cloning, skimming and device tampering.
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