[Published on: Jul 13, 2014] An amazing system is going to develop in banking by which anybody can withdraw cash from ATM without having ATM Card. People will be able to do it by taking the permission from card holder and mobile code sent to both card holder and cash receiver.
Currently 54 Crore bank customers in the country and only 40 Crore people has the ATM card. But 90 Crore people has the mobile phone. So, on seeing this fact government is thinking to develop a system to withdraw money from ATM without having ATM card (using mobile phone).
Now, look out the complete procedure for withdrawing cash from ATM without having ATM card.
How System Will Work?
The procedure for withdrawing money from ATM without having the card is following:
- First of all, the card holder must be told the Name, Phone number and city name of person who is withdrawing cash.
- Then, then bank will send a code to card holder’s phone.
- The card holder must send this code to the person who’s withdrawing cash.
- That person will enter this code to ATM, then bank will again send a code to mobile phone of person who is trying to withdraw money.
- After matching the code sent to both people, user can withdraw cash.
So, was there any use of ATM card? No, you will be able to withdraw cash from ATM even you don’t have the ATM card in your hand. Isn’t it very interesting and beneficial effort of government and bank sectors.
It Will Be Proven Effective
This system will be proven very effective for sending money to person in the emergency. So, if anybody is in emergency, then he/she can withdraw cash from ATM without card; by just card holder’s permission.
An officer of Reserve bank stated that after starting this system, people in the villages or in small towns can easily borrow money from their relatives very simply.
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Soon enough, the Reserve Bank of India will bring braille typing pad for blind people so that they can easily operate the ATMs. In addition, the ATMs will also have the speaking function that’s why blind people can hear what they entered.