Now, you need not carry your automated teller machine (ATM) card to withdraw cash.
Cash-on-Mobile, the new cardless cash facility launched by IndusInd Bank enables you to withdraw cash from an ATM without using your ATM/debit card.
How to get it?
You will have to register for the service at any IndusInd branch or ATM via the bank’s Internet banking. You can also call up the bank's customer service centre. Once registered, you will receive a four-digit MPIN (mobile personal identification number), just like an ATM PIN. This MPIN will ensure security of the transaction and work as an authorisation code.
You need to download the application on your cellphone. You also have the option of using the SMS channel. The bank will send a weblink for the application.
What do you get?
The service is free-of-cost. You get the facilities you normally get at an ATM. You will be able to make intra-bank, mobile-to-mobile, mobile-to-account fund transfers and even Net Electronic Funds Transfer (NEFT). Interbank Mobile Payment Service (IMPS) is a part of this mobile application.
Cash limit: You can withdraw up to Rs5,000 per day through cash-on-mobile. In case of fund transfers through IMPS, the limit is Rs30,000 per day per transaction and Rs4,000 using SMSs. All bill payments come with a limit of Rs20,000 per day per transaction.
How do you use it?
Go to the IndusMobile application you have downloaded. Use your MPIN and make a request to the bank for the cardless withdrawal facility, specifying the amount. The bank will send you a temporary password. You will have to generate another password for yourself as well through the application. At the ATM, choose the cash-on-mobile option on the screen. You will be asked to enter your mobile number, the amount and the temporary password sent by the bank as well as the password you generated. Only when all four match, the ATM will dispense cash.
You can even use this facility to send money to a third party.