UPI ATM Cash Withdrawal Limits and Regulations

UPI ATM Cash Withdrawal Limits and Regulations

28 September, 2023

With ever-rising customer needs, National Payment Corporation of India (NPCI) has been putting efforts to enhance our payment experience. They have unveiled the UPI-ATM (Interoperable Cardless Cash Withdrawal) service to transform the way we withdraw cash. It is a revolutionary service within the Unified Payment Interface (UPI) framework that enables cardless cash withdrawals from ATM by using UPI-enables applications. However, like every financial service, UPI-ATM cash withdrawals come with specific limits and regulations to ensure smooth and secure transactions. Read on to learn about UPI-ATM transaction regulations.

UPI-ATM cash withdrawal: maximum limits

The cash withdrawal restrictions for UPI-ATM are as follows:

  • Per transaction limit: Each UPI-ATM transaction allows you to withdraw a maximum of ₹10,000. This limit is in line with the existing UPI per day limit and daily UPI transaction limit set by your bank.

  • Daily transaction limit: The daily transaction limit for UPI-ATM cash withdrawals is determined by your bank. It is essential to check with your bank to understand the specific limit they have set for your UPI-ATM transactions.

UPI-ATM transactions – what you need to know

-ATM is designed to be secure and convenient. To ensure the safety of your financial transactions, NPCI have specific measures in place:

  • Dynamic QR codes: UPI-ATM transactions involve the use of single-use dynamic QR codes. These QR codes are generated for each transaction and expire after every use. This feature enhances security and prevents fraudulent activities.

  • UPI PIN authorisation: To complete a UPI-ATM withdrawal, you will need to authorise the transaction using your UPI PIN on your mobile application, just like you do for other UPI transactions.

  • Interoperability: UPI-ATM transactions are interoperable allowing you to use this service at any participating banks’ ATM. This ensures convenience and accessibility across various banks’ ATM networks.

  • Integration with existing infrastructure: Major system-related changes to integrate UPI-ATM with National Financial Switch (NFS) and UPI are handled at the NPCI. This ensures seamless and secure transactions within the UPI ecosystem.

  • Participating banks: You can utilise the UPI-ATM services if your bank is a participating entity withing the NFS network and UPI-ATM framework. If you wish to use UPI-ATM services, you can inquire with your bank.

Bottom line

UPI, which has been an integral part of payment systems for quite some time, has now enabled a convenient way to withdraw cash. Ensure you check the limits and charges for UPI-ATM cash withdrawals with your bank.

​​​​​​​*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.

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