Cardless Withdrawal: Benefits, Process, Limits, Charges

Cardless Cash Withdrawal

It’s technology at it’s best again. And this time Indian banks have made best use of the technology to offer Cash Withdrawal Without A Card at ATMs. We can also call this facility as “Send Money to Mobile Number”

Benefits of Cardless Cash Withdrawal

  • Funds transfer is very easy and secured
  • Most importantly, when you need cash on an urgent basis but your ATM card is lost, then this system will come to you your rescue
  • Transaction can be done 24*7
  • Cash can be withdrawn at select ATM centres across India depending on the bank
  • Recipient is not required to have bank account. This is the most distinguishing feature of this service.

How to Initiate Transfer and Withdraw Cash

  1. Sender should login to his/her internet banking account or visit the bank personally to send money.
  2. Then following details of beneficiary should be entered: Payee name (i.e. recipient’s name), Nickname, Payee’s 10 digit mobile number, Re-enter mobile number, Address, City & Pin Code. Depending on the bank’s online banking interface, these details might slightly vary.
  3. Once above details are entered, registration alert would be sent to the sender’s registered mobile number along with the unique registration number for completing the registration of beneficiary
  4. Once successfully registered, you can follow normal process of sending the money
  5. After a transfer is initiated, sender will receive 4 digit verification code whereas recipient will receive six digit reference code on their mobile phone via SMS.
  6. Sender must share this 4 digit code with the recipient
  7. Finally recipient needs to visit any ATM of the bank and enter these details: beneficiary mobile number, 4 digit verification code sent by the payer and 6 digit code sent by the bank and the amount to be withdrawn


  • Sender must hold savings bank account in the bank through which money would be transferred
  • Sender must have internet banking enabled and should register the beneficiary’s contact details – full name, ten digit mobile number and complete address
  • Sender must be registered for mobile banking facility
  • Once the money is transferred via internet banking facility, it is mandatory for the receiver to withdraw the whole amount at the same time and within two days of the transfer. (This would vary depending on the bank)
  • In case the details entered by the recipient enters incorrect details then the cardless withdrawal will be blocked. And the whole amount would get credited back to the sender’s account

Which Banks Offer Cardless Withdrawal Service

As of now, following banks offer this service to their savings bank customer:

  1. ICICI Bank
  2. Axis Bank
  3. Bank of India
  4. IndusInd Bank


There is a set limit for the transaction amount. Per transaction Rs. 5,000-10,000 can be transferred whereas recipient can withdraw Rs. 25,000 every month. This might again vary from bank to bank.


For every transfer, payer would be charged Rs. 25.

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