NEWS & ADVICE : SAVINGS ACCOUNTS
No need of bank account to withdraw cash from ATM
By Vaibhav Aggarwal
Feb 13, 2014
Print    Email    RSS   

Recently it has been reported that soon the customers without the bank account will be able to withdraw cash from the ATMs. RBI governor announced that with the help of mobile technology, everyone can take the money out from the money dispensing machines.

At present only the people with the bank accounts can withdraw money. Payment systems will be established through which there will be transfer of funds from the people holding bank accounts to people without accounts through ATMs. The intermediary will process the payment and a code will be send to the mobile of the person that will help him to withdraw cash from nearby ATM.

RBI stated that the purpose to startup this facility is avail the efficient and necessary facilities to all the people, there are lot many people who do not hove proper access to financial services. It has been assured that the facility will be completely secure and will take care of consumer’s security, identification, transfer validation etc.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Savings account portability: How...
Carnival of Indian Personal Finance Blogs #6
12 point conduct checklist for bank and...
Steps to file Income Tax return online
PPF- How good an investment option!!


how to download my account details
last six months statement
CDS/CRTR/

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive