Want to remove money from bank ATM, but forgot your debit card? You can still do it! Here's how

There can be many reasons why you were not able to remove money from a bank ATM - you may have forgotten your debit card at home or in office. Perhaps you have lost it. In all these cases, removing money from your bank's ATM will seem like being impossible. But not to worry, these days there is a new trend and facility offered by banks. This one is called a cardless cash transactions which eliminates the need for carrying a debit card. In fact, all you need is your smartphone for carrying cardless cash transactions at an ATM. 

Cardless card transaction has definitely changed the way money is exchanged or removed from an ATM. They in fact, also almost act like other services such as NEFT, RTGSand IMPS. The only difference is that, cardless cash withdrawal is more flexible and can be done anytime with few charges.

Here’s how they work: 

One of the major advantages of using cardless cash withdrawal service is that it eliminates the need to carry a debit or credit card. This service can be used for either sending money to someone, or remove cash from ATM. In both cases, all you need is your smartphone, which will help you in notifying the status of the transaction. 

Generally, the procedure works like this. For sending money, you will have to indicate the amount you want to send using recipient’s phone number, bank or ATM which will conduct the transaction. 

Now the person receiving this money, will get a message on his or her cell phone which will have amount information, ATM direction and a password. Therefore, it is important, the recipient uses one of the ATM affiliated with this service. It is not necessary that, the recipient must be a customer of that respective bank. 

Although sending and withdrawing money does not usually carry cost to the person who is receiving it. But the person who sends the money will be liable to pay a certain fee which depends and varies from bank to bank. 

Take note, not every ATM will be offering cardless cash transactions. Hence, it always advisable to check with your branch about the bank ATM for the service. Currently, lenders like State Bank of India (SBI) and ICICI Bank do offer this service.