BTL 877 - UPI ATM (ICCW)

 

The Banking Tutor’s Lessons

BTL 877                                                                                09-03-2026

UPI ATM (ICCW)

A UPI ATM (also known as Interoperable Cardless Cash Withdrawal or ICCW) allows you to withdraw cash from an ATM by scanning a QR code with any UPI app, eliminating the need for a physical debit card.

Key Features & Limits

Cardless Access: You only need your smartphone with a UPI-enabled app (like Google Pay, PhonePe, or BHIM).

Withdrawal Limit: The maximum limit is ₹10,000 per transaction, which is part of your existing daily UPI limit.

Enhanced Security: Reduces risks like card skimming or cloning since no physical card is used.

Interoperability: You can withdraw cash from any participating bank's ATM regardless of where you hold an account.

How to Withdraw Cash

Select Option: On the ATM screen, select "UPI Cash Withdrawal".

Enter Amount: Type in the amount you wish to withdraw (up to ₹10,000).

Scan QR: A dynamic QR code will appear on the ATM screen. Scan it using your UPI app.

Authorize: Confirm the amount on your phone and enter your UPI PIN.

Collect Cash: Once authorized, the ATM will dispense the cash. 

Important Updates (As of March 2026)

Transaction Charges: Starting April 1, 2026, banks will count UPI-based withdrawals within your monthly free ATM transaction limit.

Fees: Exceeding the free limit (typically 3–5 transactions) will incur a fee of ₹23 plus taxes per transaction .

UPI Cash Deposit: The RBI has also introduced UPI-ICD (Interoperable Cash Deposit), allowing you to deposit cash into any bank

Sekhar Pariti

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