Cardless Cash Withdrawal is a secure and convenient way to withdraw cash from an Automated Teller Machine (ATM) without any debit or credit cards. Cardless Cash Transactions allow you to transfer money between different bank accounts without needing a physical card.
What is Cardless Cash Withdrawal?
Cardless cash withdrawal is a convenient banking feature that allows you to withdraw cash from an ATM without using a physical debit card. It provides an alternative method for accessing your funds securely and conveniently. There are different ways to perform cardless cash withdrawals, depending on the bank and the specific technology used.
Purposes of YONO
- To enable cardless transactions at ATM locations is YONO’s main objective.
- to persuade users to use a digital transaction platform
- Get rid of any dangers that might come with ATM withdrawals
- When an ATM card isn’t available, this method saves time and serves as a primary source of funding in emergencies. It also lowers the chance that fraudulent activities like card skimming and copying will occur.
Features of YONO
- Any savings account holder can withdraw cash at the ATMs of the bank without using a debit card
- It is a digital banking platform for SBI customers and can be used on smartphones to make transactions and payments
- The cashless withdrawal service is available across 16,500 SBI ATMs across the country
- It is also possible to perform banking transactions like opening Fixed Deposit, applying for credit cards, insurance, investments and loans
- Provides option to purchase products through other e-commerce web portals
- Increase investments and manage funds from other SBI accounts
- Provision to book air, train and bus tickets
Aspects of YONO
- Anyone with a savings account can make cash withdrawals at the bank’s ATMs without needing a debit card.
- It is a mobile payment and transaction platform for SBI customers.
- 16,500 SBI ATMs nationwide offer the cashless withdrawal service.
- Additionally, it is possible to carry out banking operations like opening Fixed Deposits, trying to apply for Credit Cards, Insurance, Investments, and Loans.
- offers the choice to buy products via other e-commerce websites
- Boost investments and take control of money from those other SBI accounts
- the ability to purchase tickets for buses, trains, and aeroplanes
How to Use a Phone and an ATM to Withdraw Money without a Debit Card
- Step 1: Open the Yono app and sign in using your bank’s login information.
- Step 2: Create a 6-digit MPIN for upcoming logins.
- Step 3: Select Yono cash from the list of ATM locations to withdraw money without an ATM card.
- Step 4: Select the ATM tab and enter the desired withdrawal amount. The minimum and maximum withdrawal amounts per transaction are respectively ₹500 and ₹10,000.
- Step 5: The enrolled mobile number will receive a cash transaction number. At Yono Cash points (ATMs that support cardless transactions), you can withdraw money using the involved in the process and PIN.
- Step 6: At the Yono cash point, select the Card less transaction option and enter the information. Account holders have the option to use the app to find nearby ATMs that support card-less transactions.
Steps to be followed in YONO app
To log in to the YONO app, you can use your internet banking user ID and password or MPIN. Once logged in, select the YONO Cash option from the Home page or the YONO Pay option on the Home screen or Hamburger Menu. Then, navigate to the “New Request” tab on the YONO Cash landing page and click on the ATM option.
Next, choose the account from which you wish to withdraw money and enter the desired amount. Proceed by creating a YONO Cash PIN specific to this transaction. Note that the PIN will only be shown on the screen during creation and will not be shared through any channel or on the enquiry page.
After reviewing the transaction details, accept the Terms and Conditions, and confirm the transaction. Upon successful completion, you will receive a message indicating the same. You can also check the nearest YONO Cash Points available. Your request will be registered on YONO, and the Transaction Reference Number will be sent to your registered mobile number via SMS.
FAQs
Can I withdraw money from SBI ATM without card?
Yes, you can withdraw money from an SBI ATM without a card using the Yono app. You can generate a reference number and create a dynamic PIN for the cash withdrawal through the Yono app. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from the ATM
How to do cardless withdrawal?
To do a cardless withdrawal, you can use the Yono app. You need to log in to the Yono app, generate a reference number and create a dynamic PIN for the cash withdrawal. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from an SBI ATM