RBI allows interoperable card-less cash withdrawal at ATMs

The Reserve Bank of India on Thursday directed banks and ATM operators to make the card-less cash withdrawal facility, or the ICCW (interoperable card-less cash withdrawal), available at all the ATMs across banks.

The central bank also said Unified Payments Interface (UPI) will be used for customer authorisation while withdrawing cash from an ATM in a card-less transaction. Moreover, it also asked the National Payments Council of India (NPCI) to facilitate UPI integration with all banks and ATM networks.

All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs. NPCI has been advised to facilitate UPI integration with all banks and ATM networks. While UPI would be used for customer authorisation in such transactions, settlement would be through the National Financial Switch (NFS)/ATM networks,” the central bank said in a statement.

There will be interoperability between issuing banks and other bank ATMs for card-less cash withdrawal facility. However, existing cash withdrawal limits from ATMs will remain in force.

The RBI in April said it would give instructions to NPCI, ATM networks and banks on the card-less cash withdrawal facility. The central bank had noted that some banks were allowing card-less cash withdrawal for their customers at their own ATMs. The card-less cash withdrawal facility will help curb frauds such as money skimming, card cloning and device tampering, the central bank said.

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