ATM Cash Withdrawal New Rule: The bank said that by availing its ICCW facility, its customers along with BHIM UPI, customers of other participating banks using other UPI applications will also be able to withdraw cash from ATMs.
Bank of Baroda facility news: Public sector Bank of Baroda (BoB) has started Interoperable Cardless Cash Withdrawal (ICCW) facility. Under this, a customer can withdraw cash from the bank’s ATM using UPI. The bank is the first public sector bank to offer ATM cash withdrawal facility through UPI.
The bank said that by availing its ICCW facility, its customers along with BHIM UPI, customers of other participating banks using other UPI applications will also be able to withdraw cash from ATMs. Customers will not need to use debit cards to withdraw cash from Bank of Baroda ATMs.
How it will work: To avail this service, the customer has to select the option of ‘UPI Cash Withdrawal’ at Bank of Baroda ATMs. Then after entering the amount to be withdrawn, a QR code will be displayed on the screen of the ATM. This code has to be scanned using an authorized UPI app for ICCW to authorize the transaction.
Limit up to Rs 5000: Akhil Handa, Chief Digital Officer of the bank, said that the introduction of ICCW service will give customers the freedom to withdraw cash without using a card. At Bank of Baroda ATMs, customers can do two transactions in a day and a maximum of Rs 5,000 can be withdrawn at a time.
