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Thursday, September 11, 2014

ICICI Bank offers Cardless Cash Withdrawal at ATMs

Now, withdraw without a debit card at an ICICI Bank ATM, as the bank facilitates cardless cash withdrawal service with the help of a mobile number.

, India’s largest private sector bank, announced its ‘Cardless Cash Withdrawal’ service that allows its customers to transfer money from their account to anyone in India with a mobile number, the bank said in a statement.

The recipient can withdraw money round the clock without using a debit card from over 10,000 ATMs of ICICI Bank across the country. One can do this even without having a bank account of any bank, the bank further said.

However, the sender needs to be an ICICI Bank savings account holder.

Rajiv Sabharwal, Executive Director, ICICI Bank said: “We foresee tremendous growth potential in the usage of electronic payments in our country. ‘Cardless Cash Withdrawal’ provides an added facility in an array of electronic payment options that ICICI Bank offers to its customers.”

How it works

The facility can be initiated by any ICICI Bank savings account customer (sender) by logging into internet banking of ICICI Bank website.

The sender first needs to register the recipient’s name, mobile number and address. The sender will get a four digit verification code while the recipient a 6-digit reference code, over SMS.

The recipient can withdraw cash from almost all ICICI Bank ATMs by entering mobile number, cash amount along with the verification and reference code, within two days of the transaction.

This service can also be used by the Bank’s account holders to withdraw cash from their own accounts without using a debit card, the bank added.

Source : The Hindu


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