Utkarsh Small Finance Bank Limited (USFBL) has introduced a groundbreaking service set to redefine the cash withdrawal experience. USFBL has unveiled the Interoperable Cardless Cash Withdrawal (ICCW) service, which harnesses the power of the Unified Payments Interface (UPI) within its ATM network. This initiative aligns seamlessly with the Reserve Bank of India’s directive, urging all banks to incorporate Interoperable Cardless Cash Withdrawal (ICCW) options at their ATMs, and Utkarsh Small Finance Bank has taken the lead in fulfilling this mandate.
The ICCW service empowers UPI-enabled bank customers to effortlessly withdraw cash from specifically designated Utkarsh Small Finance Bank ATMs, all without the need for a physical debit card. Significantly, this pioneering service extends its convenience not only to Utkarsh Small Finance Bank’s own customers but also to customers of other banks who utilize BHIM Utkarsh, BHIM UPI, or any other ICCW-enabled UPI application on their mobile devices.
Managing Director of Utkarsh Small Finance Bank, Mr. Govind Singh expressed his thoughts, saying, “This marks a significant leap forward, transitioning from using a UPI app on a mobile phone to accessing an ATM, all without the requirement of physical cards. It epitomizes the next generation of banking solutions, delivering the utmost convenience to our esteemed customers. Utkarsh Small Finance Bank continues to lead the way in banking innovation, making everyday financial transactions more accessible, secure, and convenient for our valued customers.” For customers who have multiple bank accounts linked to a single UPI ID, the ICCW functionality offers the flexibility to choose the desired account for debiting.
