ICICI (Industrial Credit and Investment Corporation of India) launched a Cardless Cash Withdrawal service on 10 September 2014. The service allows its customers to transfer money from their account to anyone in India with a mobile number. The recipient can withdraw without a debit card or even a bank account.
In case of transfer, recipient can withdraw money round the clock without using a debit card from over ten thousand ATMs of ICICI Bank across the country. The recipient can withdraw even without having a bank account of any bank but the sender needs to be an ICICI Bank savings account holder.
Procedure
• Any ICICI Bank savings account customer (sender) can initiate the facility by logging into internet banking of ICICI Bank website.
• The sender first needs to register the recipient’s name, mobile number and address. The sender will get a four digit verification code while the recipient a 6-digit reference code through SMS.
• The recipient can withdraw cash from almost all ICICI Bank ATMs by entering mobile number, cash amount along with the verification and reference code, within two days of the transaction.
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