India’s First Cardless ATM: Amazing and Unknown Facts
To make cash procedure easy and customer friendly, SBI that is State Bank of India has launched a cardless ATM namely 'YONO Cash'. In these ATMs customer can withdraw money without using debit or credit cards. The ATMs enabled for this service will be termed as YONO (You Only Need One) Cash point.
Interesting facts about Cardless Cash withdrawal ATM
- This Cardless system will work with two-factor authentication and eliminates the risk of skimming and cloning.
- Through the YONO app, the customers have to set 6-digit YONO PIN for withdrawing cash.
- When the process is initiated, the customer will get 6-digit reference code through SMS, which then have to enter in to a YONO Cash Point.
- Maximum withdrawal limit on YONO cash transaction has been set at Rs 10,000. Also, as a YONO customer, you can make only two transactions in a day.
- Let us tell you that withdrawals have to be completed within next 30 minutes at the nearest YONO cash point.
- Both the PIN and reference number will be needed for a successful transaction.
- In India, the YONO cash withdrawal facility is available across 16,500 SBI ATMs.
- No doubt this cardless facility will put a stop to frauds arising due to theft or loss of ATM cards.
- According to SBI, this service will also avoid account holders from ATM card skimming or cloning frauds.
How you can use the scheme or how you can withdraw money using YONO App?
- First, the account holder needs to activate internet banking on their SBI account and get the phone number registered.
- If a customer wants to avail this service he or she has to download the "YONO SBI" mobile app on their Android smartphone or iPhone.
- After downloading the YONO App, a person needs to log in with the internet banking details.
- For withdrawing money from the ATM, a person should open the YONO SBI App and place a request for cash withdrawal.
- After placing the cash withdrawal request, 6-digit code is received on mobile for registering the cash withdrawal request ATM. Enter this code on the ATM machine to withdraw cash. Remember, the 6 digit code is valid only for 30 minutes.
Note: This type of service is available in SBI ATMs and YONO Cash Points.
- The alert SMS of cash withdrawal will be sent on the registered mobile number.
Note: This service will not work in any other bank ATMs.
- In India, the YONO Cash withdrawal facility is available across 16,500 ABI ATMS.
Sometimes we run out of money in our wallet and also don't have ATM card. Then it will not be possible to withdraw money from ATM. But now, you don't have to worry, as SBI has launched a cardlless ATM service due to which you will be able to withdraw money and that too without using ATM card or credit card with the help of YONO cash points.