RBI asks banks and ATM operators to provide cardless cash withdrawal facility

Reserve Bank of India has directed banks and ATM operators to provide cardless cash withdrawal facilities at all ATMs. In a circular, the RBI said, all banks, automated teller machine (ATM) networks, and White Label ATM Operators (WLAOs) may provide the option of ICCW at their ATMs. The apex bank informed that the National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.

The RBI said, while UPI would be used for customer authorization in such transactions, settlement would be through the National Financial Switch (NFS) and ATM networks. The on-us and off-us ICCW transactions shall be processed without levy of any charges other than those



prescribed under the circular on Interchange Fee and Customer Charges, it added.  

According to the RBI, withdrawal limits for ICCW transactions shall be in-line with the limits for regular on-us and off us ATM withdrawals.

In a bid to check fraud, RBI last month said, it has been decided to permit all banks to introduce card-less cash withdrawal through ATMs. According to the central bank, currently, cardless cash withdrawal through ATMs is offered by a few banks.

A transaction carried out at an ATM of the card-issuing bank is called an On-Us transaction. A transaction carried out at any other ATM is called an Off-Us transaction.