Now, BoI customers can withdraw cash sans debit cards

Mumbai: In a move to promote card-less cash withdrawals, state-run Bank of India Thursday added a UPI QR-based cash withdrawal feature to its ATMs.

With this, BoI accountholders can withdraw cash from ATMs by scanning the QR code at the machine as this solution enables use of the unified payments interface (UPI) platform.

"We believe providing access to cash using a QR code will provide requisite push to adaption of QR form factor.

"Once it becomes interoperable the usage will increase multifold. This also provides the next level of security for ATM transactions as there is no requirement of the card and the PIN," chairman G Padmanabhan told reporters.

A customer can withdraw maximum of Rs 2,000 using QR code in one transaction.

The bank has also approached NPCI to make this solution interoperable so that customers of other banks are also benefitted, he said.