The State Bank of India (SBI) introduced the YONO (You Only Need One) online banking platform to allow users to use ATMs without ATM cards.
To enable people to use ATMs without ATM cards, the State Bank of India (SBI) launched the YONO (You Only Need One) digital banking platform. Additionally, it offers SBI customers numerous different services like cash services, business transactions, and online product purchases. A straightforward solution for a range of financial services is offered by the YONO for cardless withdrawal, which is built on the Android and iOS platforms.
Purposes of YONO
- To enable cardless transactions at ATM locations is YONO’s main objective.
- to persuade users to use a digital transaction platform
- Get rid of any dangers that might come with ATM withdrawals
- When an ATM card isn’t available, this method saves time and serves as a primary source of funding in emergencies. It also lowers the chance that fraudulent activities like card skimming and copying will occur.
Aspects of YONO
- Anyone with a savings account can make cash withdrawals at the bank’s ATMs without needing a debit card.
- It is a mobile payment and transaction platform for SBI customers.
- 16,500 SBI ATMs nationwide offer the cashless withdrawal service.
- Additionally, it is possible to carry out banking operations like opening Fixed Deposits, trying to apply for Credit Cards, Insurance, Investments, and Loans.
- offers the choice to buy products via other e-commerce websites
- Boost investments and take control of money from those other SBI accounts
- the ability to purchase tickets for buses, trains, and aeroplanes
How to Use a Phone and an ATM to Withdraw Money without a Debit Card
A registered user of SBI must have done so in order to access the YONO application.
- Step 1: Open the Yono app and sign in using your bank’s login information.
- Step 2: Create a 6-digit MPIN for upcoming logins.
- Step 3: Select Yono cash from the list of ATM locations to withdraw money without an ATM card.
- Step 4: Select the ATM tab and enter the desired withdrawal amount. The minimum and maximum withdrawal amounts per transaction are respectively ₹500 and ₹10,000.
- Step 5: The enrolled mobile number will receive a cash transaction number. At Yono Cash points (ATMs that support cardless transactions), you can withdraw money using the involved in the process and PIN.
Note: The phone number is active for four hours. Use of the same registration number is not permitted for partial withdrawals.
- Step 6: At the Yono cash point, select the Card less transaction option and enter the information. Account holders have the option to use the app to find nearby ATMs that support card-less transactions.
What is Cardless Cash Withdrawal?
Cardless cash withdrawal is a convenient banking feature that allows you to withdraw cash from an ATM without using a physical debit card. It provides an alternative method for accessing your funds securely and conveniently. There are different ways to perform cardless cash withdrawals, depending on the bank and the specific technology used.
Steps to be followed in YONO app
To log in to the YONO app, you can use your internet banking user ID and password or MPIN. Once logged in, select the YONO Cash option from the Home page or the YONO Pay option on the Home screen or Hamburger Menu. Then, navigate to the “New Request” tab on the YONO Cash landing page and click on the ATM option.
Next, choose the account from which you wish to withdraw money and enter the desired amount. Proceed by creating a YONO Cash PIN specific to this transaction. Note that the PIN will only be shown on the screen during creation and will not be shared through any channel or on the enquiry page.
After reviewing the transaction details, accept the Terms and Conditions, and confirm the transaction. Upon successful completion, you will receive a message indicating the same. You can also check the nearest YONO Cash Points available. Your request will be registered on YONO, and the Transaction Reference Number will be sent to your registered mobile number via SMS.
Steps to Withdraw Cash Without a Card from SBI ATM
Cardless Cash Withdrawal is a feature offered by the State Bank of India (SBI) through its YONO app. It allows customers to withdraw cash from ATMs without the need for a physical debit card. Here are the steps to follow for cardless cash withdrawal using the YONO app:
- Download and install the YONO app on your smartphone.
- Register and log in to the app using your credentials.
- Link your bank account to the YONO app.
- Generate a UPI QR code within the YONO app.
- Go to an ICCW-enabled ATM of any bank.
- Select the “UPI QR Cash” option on the ATM screen.
- Scan the dynamic QR code displayed on the ATM screen using the YONO app.
- Enter the amount of cash you want to withdraw.
- Confirm the transaction on the YONO app.
- Collect the cash from the ATM.
Features of YONO
YONO (You Only Need One) is a digital banking platform offered by the State Bank of India (SBI) that provides a range of financial and other services. Here are some of the key features of YONO:
- Instant Account Opening: Customers can open a savings account instantly through the app
- Paperless Transactions: Transactions can be done completely paperless through the app
- Unified App for Lifestyle Expense and Financial Products: YONO provides a unified and seamless experience for banking, lifestyle, insurance, investment, and shopping needs
- Online Shopping: YONO offers online shopping with rewards and offers
- Cash Withdrawal without ATM Card: YONO offers a feature called “Yono Cash” that allows customers to withdraw money instantly from any of the SBI ATMs and most of SBIs Merchant POS terminals or Customer Service Points (CSPs) within India without using any physical card or filling up any physical withdrawal slip
- UPI QR Cash: Customers can use the ‘UPI QR Cash’ functionality to withdraw cash quickly and easily from any bank’s ICCW-enabled ATMs
YONO also offers conventional mobile banking services such as bank account opening, fund transfers, cashless bill payments, and loans. Customers can download the YONO app from Google Play or the App Store
Steps to Withdraw Cash from an ATM Without a Debit Card using Phone
To utilize the YONO application, SBI users must be registered with the SBI internet web portal.
Step 1: Log in to the YONO app using your bank’s login ID and password.
Step 2: Set up a six-digit MPIN for future logins.
Step 3: For ATM cash withdrawals without using ATM cards, select the “Yono Cash” option.
Step 4: Click on the “ATM” section and enter the desired withdrawal amount. The minimum withdrawal limit is Rs. 500, and the maximum limit is Rs. 10,000 per transaction.
Step 5: A cash transaction number will be sent to your registered mobile number. This transaction number, along with the MPIN, can be used at YONO Cash points (cardless transaction enabled ATMs) for cash withdrawal.
Note: The transaction number will be valid for four hours, and it cannot be used for partial withdrawals.
Step 6: At the YONO Cash point, choose the “Cardless Transaction” option and enter the required details. The app also provides an option to locate the nearest cardless transaction enabled ATMs for account holders.
How to transfer or send money via SBI YONO Mobile App
To transfer or send money via the SBI YONO Mobile App, follow these steps:
- Download and install the SBI YONO Mobile App on your smartphone. Log in to the app using your credentials.
- Once logged in, navigate to the home screen and tap on the option labeled ‘Fund Transfer’.
- Select the beneficiary to whom you want to transfer money. Enter the necessary details of the recipient and specify the amount you wish to transfer.
- To authorize the transaction, use your MPIN for authentication.
- After entering the MPIN, you will receive a confirmation message indicating the successful completion of the money transfer.
Conclusion
Contact the legal professionals at Vakilsearch if you require any assistance regarding Cardless Withdrawal – YONO App. You’ll find things easier thanks to our team.
FAQs
Can we withdraw cash from Yono app?
Yes, you can withdraw cash from the Yono app. You will need to visit the nearest SBI ATM, log in to the Yono app using your PIN, and then go to the Yono Pay option. From there, you can select the Yono cash option and raise a request to withdraw cash
Can I withdraw money from SBI ATM without card?
Yes, you can withdraw money from an SBI ATM without a card using the Yono app. You can generate a reference number and create a dynamic PIN for the cash withdrawal through the Yono app. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from the ATM
How to do cardless withdrawal?
To do a cardless withdrawal, you can use the Yono app. You need to log in to the Yono app, generate a reference number and create a dynamic PIN for the cash withdrawal. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from an SBI ATM
Can we use the Yono app without a debit card?
Yes, you can use the Yono app without a debit card. The Yono app allows you to withdraw money from SBI ATMs without using any physical card. You can generate a reference number and create a dynamic PIN through the Yono app to complete the transaction and withdraw cash
Is Yono cash withdrawal charges?
There may be charges associated with Yono cash withdrawal. The specific charges may vary, so it is recommended to check with SBI or refer to the terms and conditions provided by the bank for accurate information on the charges
How much money can be withdrawn from Yono SBI?
The amount of money that can be withdrawn from Yono SBI may vary depending on the specific account and transaction limits set by the bank. It is recommended to check with SBI or refer to the terms and conditions provided by the bank for accurate information on the withdrawal limits
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