Banks Closed, ATM empty – How to Get Cash?

Do you want to know how you may get cash when the ATMs are out of cash? Even banks are closed on account of Odd hours, holidays or a strike.

It is possible. You can get cash in this dire situations as well. There are three ways through which you may get cash by debiting your UPI linked account. I tell you one by one.

1. Through the PhonePe ATM

PhonePe App has a special feature for its users. PhonePe is providing the ATM services almost at your doorstep. You have to just visit the nearest Phonepe merchant shop.

Transfer money to the merchant via UPI. In return you would get the hard cash. Thus no need to go for a bank ATM and check whether it has money or not.

Phonepe has named its service as PhonePe ATM. Hence let us take a look at the short and simple steps to get cash from Phonepe merchants.

Step 1,

Open the Phonepe App. Tap on the Stores button at the bottom of the home page.

Step 2,

You reach on the page of Stores Near You. Tap on Phonepe ATM. Alternatively, you may search the store by entering its name.

Step 3,

Now you can see many Phonepe ATM merchants shops nearby you. These are the shops from where you may withdraw cash.

Thus select the one. You may select the shop either on the basis of your familiar shop or nearest shop. In addition, you may choose any shop randomly.

Step 4,

After selecting, you can see whether the selected shop is a Phonepe ATM or not. Visit the store and tell him you want to withdraw money.

Step 5,

If he says Yes, then tap on Withdraw Cash button. On the next page, Phonepe informs you about the charges of Phonepe ATM

Again tap on Withdraw Now button.

Step 6,

Enter the amount which you want to withdraw. Below it, you may see your saved bank account.

Here I want to tell you that at present you may withdraw up to ₹2000 only in a single transaction. Moreover, it is also the limit of the per day withdrawal.

Step 7,

Now tap on Pay To Withdraw. Enter the UPI PIN. Hence the money gets debited from your UPI linked account and credits into the merchant’s account.

Note: Do not scan a QR code of the merchant’s store even the merchant insists of this.

Step 8,

Thus collect the cash from the merchant. Now tap on I Got Cash button. It is just to inform Phonepe that you have got the money.

Suggested: Where can we use UPI payment system

Important Facts About the Phonepe ATM

• Phonepe does not charge any fee from you or merchant for its ATM service.
• But may be the merchant will charge you a service fee. Thus you must check with the merchant before the transaction, whether he is charging any service fee.
• Before paying to the merchant, inform the merchant you want to withdraw the money.
• You can contact to the Phonepe if the merchant does not allow money withdrawal.
• Moreover, if he is charging a high service fee, then also you can convey the issue to the Phonepe.

Further Reading – What is Contact-less Usage of Cards

2. Transferring to Your Nearby Merchant’s Account

Like Phonepe ATM method, you may get cash through one more method. This is by transferring money into the merchant’s account. Thus it is almost the same way as the former. But there must be a good relationship between you and the merchant.

However, this method is not new. At the time of demonetisation, it was started for your convenience. So, if you have a good relationship with any merchant, he may assist you. Have a look-

• Visit your nearby shop. Ask the merchant you want money.
• Open your any UPI app which you are using. Tap on the send money option.
• Enter the merchant’s UPI ID. Moreover, you may proceed with the bank account details of the merchant.
• Enter the amount and click on Pay.
• Enter UPI PIN and make a payment from your account. The merchant will get the amount.
• Now receive hard cash from the merchant.

Hence, it is also an easy and reliable way to get money. Even merchants need not to hesitate and worry. Because the money directly goes into their account. Moreover, there are none of the issues of any tax like GST or others for the merchants.

Recommended: How to use UPI ID for sending money

3. Banking Correspondent (The Bank Mitra)

There is another way to get money from Banking Correspondent. Most of the banks create the banking correspondent. You can find it near the bank branch or nearby. You can also say it as a Mini ATM.

• Thus visit the Banking correspondent and allow him to swipe your debit card through the POS machine (card reader).
• Enter the PIN and receive money from your account instantly.

However, there may be a limit of the money withdrawal on the basis of per day and per transaction through this method. Moreover, you might have to pay the transaction fee as well. But in the stage of the money crisis, it may prove a big relief to you.