Airtel has introduced a new way for Airtel Payments Bank users to withdraw cash from ATMs, without the need for a physical debit or credit card. The telecom operator has partnered with Empays to enable Instant Money Transfer (IMT) for its account holders that will help them withdraw cash at over 20,000 ATMs across the country, all without using a debit or credit card. This new service is available to both smartphone and feature phone users through USSD (*400#) and MyAirtel app.
Using Empays IMT card-less cash technology, Airtel Payment Bank's saving account holders can withdraw cash from ATMs or send money to an intended recipient for ATM cash withdrawal. Users must head to an IMT-enabled ATM in their area, generate a cash withdrawal request through USSD or the MyAirtel app. At the ATM, you must go through the following steps when using the My Airtel app. Enter the mobile number > Enter the sender code (received on SMS) > Enter the OTP > Select 1 'ATM self-withdrawal' > Enter the IMT amount > Cash dispensed. When using USSD, the user must dial 4002# from their registered mobile number. At the IMT-enabled ATM, the user must then go through the following process - Select 1 'cardless cash withdrawal' > Select 1 'ATM self-withdrawal' > Enter the IMT Amount > Enter mPIN > Cash dispensed.
Airtel notes that the first two self-withdrawal transactions will be free, but after that a transaction fee of Rs. 25 will be charged. Furthermore, currently only 20,000 ATMs have this service, but Airtel this number will expand to over 100,000 ATMs by the end of this year.
Commenting on the launch, Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank, said in a statement, "We believe in digital India. We are making this a reality by providing innovative digital solutions that enhance banking. Our tie-up with Empays is an important step that enables our customers to realize digital, phone based cash withdrawals at over 100,000 ATMs, through either USSD or the MyAirtel App. We will accelerate such steps to make digital banking with Airtel Payments Bank simple and easy."