Bank of India allows ATM withdrawal without a card Bank of India today became the first state-run lender to allow withdrawal of funds from its ATMs without a debit card. The public sector bank has launched a domestic remittance service called Instant Money Transfer (IMT) that allows card-less cash withdrawal from it select ATMs which are tuned for this facility. Last month, RBI Governor Raghuram Rajan had said that individuals without a bank account will soon be able to receive money from those with bank accounts, using automated teller machines (ATM). The IMT facility allows a customer to send money to a receiver only by using the receivers mobile number through the banks ATM or using internet banking facility. The receiver may withdraw money from designated BoI ATMs without using a debit card. The receiver would receive partial details for cash withdrawal on mobile phones.
Posted on: Fri, 28 Mar 2014 04:13:38 +0000
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