You can now withdraw cash from ATM using Google Pay, Paytm – Here’s how: In the digital age nowadays, most people use mobile phone wallets like Phone-Pay, Google-Pay, Amazon-Pay or Paytm etc. for money transfer. But now users of these apps will be able to withdraw cash from ATMs as well. RBI has recently allowed this. Under this, you no longer need to go to the ATM with a debit or credit card to withdraw cash from the ATM.
Banking facilities including SBI
So far only a few banks are offering the facility of cash withdrawal without debit card, SBI, ICICI, but now UPI app will soon start offering this facility. However, customers will have to complete KYC for this, however this facility will be applicable from April 2022.
You can withdraw only 2000 rupees at a time
After the introduction of this facility, customers will be able to withdraw only Rs 2000 from the ATM with the help of their mobile wallet. At the same time this limit will be maximum Rs 10,000. For mass transit systems such as PPI, Metro cards, FastTags, etc. are excluded from interpatability. But with the introduction of the new facility, they will be able to deposit money in the POS or POS system. This facility is still available only to debit or credit card holders.
Did not have such facility till now
At present, most shops, petrol pumps and other business establishments had direct payment for phone-pay, Google-pay or Paytm, but did not have the facility to withdraw cash and send money to other phone wallets.
