Apart from metro cities and tier-1 cities, this facility will also work in other cities. Through this initiative, the bank will leverage its strong network of over 5,00,000 banking points across India to provide users access to easy cash withdrawals. Let us tell you that Airtel Payments Bank has merged with National Payments Corporation.
Users of any bank will be able to withdraw money
Users associated with a bank can use the micro ATM facility to withdraw money using the Airtel Payments Bank’s banking point in their neighbourhood. Through this facility, customers can do instant cash withdrawal and check their account balance using their debit card of any bank at specified banking points.
Why was Micro ATM launched?
Ganesh Ananthanarayan, Chief Operating Officer, Airtel Payments Bank said that we are committed to make India financially strong. For this we want to make banking service easy for all the people.
The motive behind launching Micro ATM is to make banking service accessible to all. To empower people in rural areas of the country by launching micro ATMs. Let us tell you that such a device has been launched by the bank for the first time and we are very happy about it. Any customer of any bank who has a debit card can use it from micro ATM.
Focus in Tier-2 Category Cities
The company said that the bank will initially launch 1.5 lakh units in Tier-II category cities and semi-urban areas. These areas usually have high demand for cash withdrawal services but limited access to ATMs. Through this initiative, the bank will leverage its strong network of over five lakh banking points across the country to provide users with easy cash withdrawal access. The company plans to install 1.5 lakh micro ATMs by the end of the current financial year. That is, in six months till March, 1.5 lakh ATMs will be installed in a hurry.
This is how you can withdraw from Micro ATM
- The transaction will be initiated by entering the withdrawal amount on behalf of the banking employee.
- After this the customer will insert the debit card in this device and enter the PIN to confirm the transaction
- After this the bank employee will complete the transaction by entering the MPIN.
- Cash will be given to you after the transaction is completed