In a groundbreaking move, Bank of Baroda has introduced UPI ATMs at over 6,000 of its ATMs nationwide, revolutionizing the way customers access their cash. This initiative, powered by the National Payments Corporation of India (NPCI) and NCR Corporation, makes Bank of Baroda the first public sector bank to launch UPI ATMs.

What Is Bank of Baroda UPI ATM?

Bank of Baroda's UPI ATM, also known as Interoperable Cardless Cash Withdrawal (ICCW), allows customers to withdraw cash without the need for a debit or credit card. Here's how it works:

Who Can Use the UPI ATM Facility?

Both Bank of Baroda customers and customers of participating issuer banks with UPI-enabled mobile apps can take advantage of this groundbreaking service. It's a step toward greater financial inclusivity.

The Steps to Withdraw Cash

1. Select the "UPI Cardless Cash" Option: Begin the process by selecting this option on the ATM screen.

2. Choose the Cash Withdrawal Amount: Decide the amount you want to withdraw.

3. Scan the QR Code: Utilize your UPI app to scan the QR code displayed on the ATM screen.

4. Select the Bank Account: If you have multiple bank accounts linked to a single UPI ID, choose the one from which you want to withdraw.

5. Confirm with UPI PIN: Authorize the transaction by entering your UPI PIN on your mobile app, and collect your cash.

Benefits of Using UPI ATM

• Multiple Account Access: UPI ATM users can conveniently withdraw cash from multiple accounts linked to their UPI IDs.
• Speed and Convenience: These transactions are quick and convenient, offering a hassle-free banking experience.
• Enhanced Security: UPI ATM transactions generate single-use dynamic QR codes, ensuring a high level of security for customers.

The Inner Workings of UPI-ATM (ICCW)

The NPCI outlines how this innovative system operates:

"When a customer selects 'UPI cash withdrawal' at the ATM, they'll be prompted to enter the withdrawal amount. After inputting the amount, a single-use dynamic QR code will be displayed on the ATM screen. To access the cash, the customer scans the QR code using any UPI app and authorizes the transaction with their UPI PIN on their mobile."

Key Features of UPI-ATM (ICCW) Service

• Interoperable: This system is designed to work across various banks, ensuring seamless transactions.
• Card-less Transactions: Say goodbye to the need for physical cards when withdrawing cash.
• Transaction Limit: Each transaction has a limit of up to Rs 10,000, adhering to existing UPI daily limits and issuer bank-set limits for UPI-ATM transactions.
• Unprecedented Convenience: UPI ATM users can withdraw cash from multiple accounts with ease.

In conclusion, Bank of Baroda's UPI ATM represents a significant leap forward in banking technology, providing convenience, security, and accessibility to customers across India. This innovation embodies the spirit of a cashless and cardless future, where banking is more efficient and user-friendly.

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