Bank of Baroda customers can now withdraw cash from the bank’s ATMs without using their debit card. According to the bank, cardless cash withdrawal helps to eliminate skimming, card cloning and other card related frauds.

Customers of other banks that use BHIM UPI, bob World UPI or other UPI applications enabled for ICCW on their mobile phone can also Bank of Baroda ATMs for cardless cash withdrawal.

To use the service, customers select the ‘UPI cash withdrawal’ option at the ATM. The user enters the withdrawal amount requested and a QR code is displayed on the screen.

The customer needs to scan the QR code using the UPI app enabled for ICCW. Finally, the user authorises the transaction with their UPI PIN on the mobile to withdraw cash from the ATM. If multiple accounts are linked to a single UPI ID, customers have the option to select the account to be debited.

The ATM generates a single use dynamic QR code for every transaction for risk mitigation. Further, customers need not carry multiple cards to withdraw cash from different accounts. The ICCW service allows cash withdrawals from multiple accounts linked to UPI. Customers whose KYC has been completed and who have not been issued a physical card can also use the service.

Bank of Baroda: serving 150 million customers via 8,200 branches, 5,393 ATMs

Shri Joydeep Dutta Roy, Executive Director, Bank of Baroda said: “We are delighted to launch Interoperable Cardless Cash Withdrawals (ICCW). The service is enabled across our 5,393 ATMs and is designed to make cash withdrawals even more hassle-free and convenient. Given the popularity of UPI and being interoperable across banks, ICCW has the potential to revolutionise cash withdrawals.”

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Users can make two transactions a day per account with a withdrawal limit of INR5,000 (£60) per transaction.

Bank of Baroda serves its 150 million customers from a domestic network of 8,200 branches. The Indian government is the majority shareholder with a stake of around 64%.