MUMBAI: SBI has introduced a facility that allows customers to withdraw cash from ATMs without a card. YONO Cash can be used to withdraw cash at over 16,500 SBI ATMs across the country. SBI is the first bank to offer this service in India. The ATMs enabled for this service will also be termed as YONO Cash Point.
Customers can initiate the cash withdrawal process on the YONO app and set a six digit YONO Cash pin for the transaction. They will also get a six digit reference number for the transaction on their registered mobile number via SMS. The cash withdrawal has to be completed within the next 30 minutes at the nearest YONO Cash point using both PIN and the reference number received.
YONO can be accessed through Android and iOS powered mobile phones, and on the web through a browser.
SBI Chairman Rajnish Kumar said, “YONO Cash will also address the concern of using debit card at the ATMs for cash withdrawals by eliminating possible risk associated with it. This feature is designed to help users withdraw cash without a physical debit card. Our endeavour is to create a digital universe by integrating the entire transactions ecosystem under one platform.”