It’s technology at it’s best again. And this time Indian banks have made best use of the technology to offer Cash Withdrawal Without A Card at ATMs. We can also call this facility as “Send Money to Mobile Number”
Benefits of Card less Cash Withdrawal.
• Funds transfer is very easy and secured
• Most importantly, when you need cash on an urgent basis but your ATM card is lost, then this system will come to you your rescue
• Transaction can be done 24*7
• Cash can be withdrawn at select ATM centers across India depending on the bank
• Recipient is not required to have bank account. This is the most distinguishing feature of this service.
As of now, following banks offer this service to their savings bank customer:
Bank of India
There is a set limit for the transaction amount. Per transaction Rs. 5,000-10,000 can be transferred whereas recipient can withdraw Rs. 25,000 every month. This might again vary from bank to bank.
For every transfer, payer would be charged Rs. 25.