Cardless Cash Withdrawal from ICICI Bank
ICICI bank today introduced cardless cash withdrawal facility. This is a very innovative feature that customers from ICICI bank can use to transfer money. Customers can also use this facility if they are not carrying the debit card but can access internet. Lets see how it works.
Who can avail Cardless Cash Withdrawal facility from ICICI Bank?
- The person initiating the transfer of money has to be an ICICI bank customer with internet banking facility with a valid mobile phone number registered with the bank.
- The person withdrawing the money just needs a mobile phone number. The beneficiary need not have any bank account, just the mobile phone number is required.
- It is important to note that the beneficiary can withdraw the money form only ICICI bank ATM.
How to initiate the transfer of money using the Cardless Cash Withdrawal from ICICI Bank?
- Login to your internet banking account
- Add a beneficiary with details like name, Address and mobile number
- Create a Cardless Cash Withdrawal transaction of the amount you wish to transfer to the beneficiary
- The account gets debited immediately with the amount and transaction fees of Rs. 25(insclusive of service tax)
How to withdraw the money using the Cardless Cash Withdrawal from ICICI Bank?
- Once transaction is successful using the internet banking both the person transferring the money and beneficiary get codes on their respective mobile phones.
- The person transferring the money gets a 4 digit code on the mobile phone. You have to pass on this code to the beneficiary to complete the transaction.
- The beneficiary gets a 6 digit code on his/her mobile number
- The codes will be valid until midnight, next day. If money is not withdrawn transaction will be cancelled and money will be credited back to the bank account of originator.
- Beneficiary has to visit any ICICI bank ATM and enter the following details to get the money
- Mobile number of the beneficiary
- The 4-digit code (as received by the sender)
- The 6-digit code (as received by the beneficiary)
- The amount to be withdrawn
- Beneficiary has just one chance to enter the details correctly. If there is any mismatch in the details entered by the beneficiary, the Cardless Cash Withdrawal transaction will be blocked forever and amount will be credited back to the ICICI bank account holder.
Is there a limit to amount of money that can be transferred using the Cardless Cash Withdrawal from ICICI Bank?
The maximum amount that can be transferred through this service is Rs. 10,000 per transaction and cannot exceed Rs. 25,000 per account in a day. Also, the maximum amount per recipient cannot exceed Rs. 25,000 in a month.
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