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ICICI Bank launches 'Cardless Cash Withdrawal'

India Blooms News Service | | Sep 11, 2014, at 03:32 am

#ICICI Bank launches 'Cardless Cash Withdrawal'

Mumbai, Sept 10 (IBNS): Private sector bank ICICI Bank has launched 'Cardless Cash Withdrawal', a service that allows its customers to transfer money from their account to anyone in India with a mobile number.

The recipient can withdraw money round the clock without using a debit card from over 10,000 ATMs of ICICI Bank across the country. He can do this even without having a bank account of any bank.

Commenting on the launch of the service, Rajiv Sabharwal, Executive Director, ICICI Bank said: “We foresee tremendous growth potential in the usage of electronic payments in our country. ‘Cardless Cash Withdrawal’ provides an added facility in an array of electronic payment options that ICICI Bank offers to its customers. This innovative service will further empower our customers as well as their families and friends by giving access to instant money even without having a bank account or a debit card.”

The ‘Cardless Cash Withdrawal’ facility can be initiated by any ICICI Bank savings account customer (sender) by logging into internet banking at www.icicibank.com.

The sender first needs to register the recipient’s name, mobile number and address.

The sender will get a four digit verification code while the recipient a six digit reference code, over SMS. The recipient can withdraw cash from almost all ICICI Bank ATMs by entering mobile number, cash amount along with the verification and reference code, within two days of the transaction.

This service can also be used by the Bank’s account holders to withdraw cash from their own accounts without using a debit card.

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