ICICI Bank has rolled out cash withdrawal support without the need for a SBI YONO-like debit card. Users need to install the iMobile Cash withdrawal app.
Customers of ICICI Bank will now be able to cash withdraw without their debit cards.
Customers need to have the iMobile app installed on their phones.
ICICI Bank delivers the service across the country on 15,000 ATMs.
India's State Bank started it with its YONO service a long time ago and now ICICI Bank is following in its footsteps. ICICI Bank has now started cardless cash withdrawal from its ATM points in a bid to make banking easier.
All ICICI Bank customers will be able to withdraw cash from nearly 15,000 ATM locations across the country without using their debit card. The service will feature your smartphone and the bank's iMobile app.
The Cardless Cash Withdrawal feature largely negates the need for a debit card to verify ID. Instead, the customer's bank account and the iMobile app rely on the registered mobile number. Users also need to ensure they are equipped with an Android or iOS device to use the service.
Type in anything that you want. Then click Quill It on the right to paraphrase your input.
Log into the ‘iMobile’ app and select ‘Services’ and ‘Cash Withdrawal at ICICI Bank ATM’
Enter the amount, select your account number, create a 4-digit temporary PIN and submit.
You will immediately receive a reference OTP (One Time Password).
Visit any ICICI Bank ATM and select Cardless Cash Withdrawal. Then select ‘enter mobile number’and head over to ‘reference OTP number’. Input your temporary PIN and then select the amount for withdrawal.
The cardless cash withdrawal system is not the first of its kind, since SBI has been using the YONO service for a long time offering the same to its customers. The system however comes with several advantages of its own. For starters, when you have to withdraw cash you no longer need to carry a debit card with yourself.
In addition, customers can withdraw up to 20,000 Rs per day and use the service on more than 15,000 ICICI Bank ATM machines.
Note that the request for cash withdrawal and OTP are valid till midnight the next day. Therefore, before withdrawing the cash, you do not need to be at the ATM location. You should also remember that the quality of the service will depend on the speeds of the Internet as well as on the conditions of the network.
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