Bank of India allows card-less cash withdrawal on some ATMs

Bank of India on Monday launched its card-less cash withdrawal service through some of its ATMs.

Under this facility, a Bank of India customer can send money to anyone using regular Bank of India ATMs or through Internet banking, by using the receiver’s mobile number.

The sender will have to provide the bank beneficiary’s mobile number, a sender code, and the amount through a text message or through Internet banking.

The beneficiary then receives a code from the bank and can walk into any Bank of India ATM that has the instant money transfer facility enabled to withdraw the money within 14 days of the transfer.

Reserve Bank of India recently allowed card-less cash withdrawal to facilitate financial inclusion in the country.

The monthly withdrawal limit is Rs.25,000 for the beneficiary and the per-transaction limit is Rs.10,000.