Now, withdraw from ATMs without card

You do not have to be an account holder for receiving funds from another account holder. ICICI Bank has recently launched a facility under which an account holder can transfer funds to another person even if the latter does not have a bank account. But there are a few prerequisites for using the facility. For example, a sender needs to have online banking ID and password, and the beneficiary needs to have a mobile phone for receiving the amount.

You first need to log in to the bank website with user ID and password. Register the beneficiary, the receiver of money, by entering his or her mobile number, name and address and the unique registration number (URN) that you receive on your registered mobile number. Then, you go to the transfer section and select 'cardless cash withdrawal' for entering the transaction amount. After the amount gets deducted, you receive a unique four-digit code on your mobile from the bank. You need to share it with the beneficiary.

The beneficiary or receiver also gets an SMS with a unique six-digit code on their mobile phone from the bank. Finally, the beneficiary has to visit a specified ATM and enter the required details - the mobile number, the four-digit code (received by the sender), the six-digit code (received by the beneficiary) and the amount to be withdrawn.

You can transfer a maximum Rs 10,000 per transaction and Rs 25,000 per account in a day. Also, the amount per recipient cannot exceed Rs 25,000 in a month.