Utkarsh Small Finance Bank Limited (USFBL) announced the launch of an innovative service, set to revolutionise cash withdrawal experiences. The Bank launched Interoperable Cardless Cash Withdrawal (ICCW) service that utilises UPI (Unified Payments Interface) on its ATM networks. This is In line with the Reserve Bank of India’s directive urging all banks to provide 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 bank customers who are active on UPI to conveniently withdraw cash from Utkarsh Small Finance Bank ATMs designated for UPI-ATM-ICCW transactions, all without the need for a physical debit card. Notably, this ground-breaking service extends its convenience not only to Utkarsh Small Finance Bank customers but also to customers of other Banks who employ BHIM Utkarsh, BHIM UPI, or any other ICCW-enabled UPI application on their mobile devices. For customers with multiple bank accounts linked to a single UPI ID, ICCW functionality offers the flexibility to select the desired account for debiting.
Mr. Govind Singh, Managing Director of Utkarsh Small Finance Bank, commented, “This represents a significant improvement, shifting from using an UPI app on a mobile phone to accessing an ATM, without the need for any physical cards. It epitomises next-generation banking solutions, delivering utmost convenience to our valued consumers. Utkarsh Small Finance Bank continues to lead the way in banking innovation, making every day financial transactions more accessible, secure, and convenient for our valued customers.”
