ATM Cash Archives - Talk To Iconic

The customers of Bank of Baroda (BOB) have received some wonderful news. Money can also be withdrawn by customers without an ATM card. Customers can now use the UPI App to withdraw cash from ATMs.

Customers can use Bank of Baroda ATMs without a debit card to make cash withdrawals. Through UPI, you can also withdraw money. You must select the ‘UPI Cash Withdrawal’ option to do this at the Bank of Baroda ATM. A QR code will then appear on the ATM’s screen after this. You must enter the PIN after scanning the code. You then need to input the amount.

Customers will have the ability to withdraw money without a debit card thanks to the service provided by ICCW, according to the bank’s Chief Digital Officer Akhil Handa. A customer is permitted two transactions each day. This means that you can only use the service twice a day. More than Rs 5,000 can be withdrawn at once.

Currently Bank of Baroda has launched this feature across their ATMs

Things you should know 💡

You can make 2 transactions per day per account with a withdrawal limit of ₹5000/- Per Transaction
— Ravisutanjani (@Ravisutanjani) June 5, 2023

Cash withdrawals from ATMs will become more expensive from next month, i.e. year 2022. Yes… Withdrawal of cash (ATM transactions) will now be more expensive. A bank can charge a customer after withdrawing money from an ATM over the prescribed limit.

Axis Bank and other banks ATMs will charge Rs 21 plus GST for financial transactions above the free limit, according to RBI guidelines. Starting January 1, 2022, new rates will apply.

As of next month, customers will be charged 21 rs instead of 20 rs for free transactions exceeding the monthly limit. Due to higher interchange charges and higher general costs, the RBI increased the transaction charge to Rs 21.

Withdrawing cash from ATMs is free

Each month, customers will be able to perform up to five free transactions at their own bank ATMs (both financial and non-financial transactions). Further, ATM withdrawals will be free in metro areas for three withdrawals and five for non-metro withdrawals from other banks. Additionally, the RBI permitted banks to raise interchange fees for financial transactions from Rs 15 to Rs 17 and non-financial transactions from Rs 5 to Rs 6 across all centers.

New rules for interchange fees come into effect on August 1

Bank customers will continue to have the option to use their own bank ATMs for up to five transactions free of charge per month (including financial and non-financial transactions). In addition, the customers will be able to use ATMs in metro cities for three free transactions and five in non-metro centers.

Tag: ATM Cash

Customers can also withdraw money from this bank without ATM card

Withdrawing cash from ATM will be expensive, withdrawal over the limit will now incur a steep fee, know details