Withdraw money without bank A/C - BOI
Posted on: 25/Mar/2014 10:13:50 AM
Bank of India has announced a facility to allow card-less cash withdrawal without opening a bank account. The facility is largely targeted towards helping migrant labourers.
Under the initiative `Instant Money Transfer` plan a bank customer can remit or transfer money by using the receiver`s mobile number. The receiver would be able to withdraw money from a Bank of India ATM by feeding a code authorised by the sender.
The sender would be charged Rs.25 for every transaction. The maximum withdrawal limit is Rs.10,000, and the monthly limit Rs. 25,000.
The bank is looking at making all its ATMs IMT-enabled in the next 20 days. Further, the bank is making efforts to facilitate the service on mobile handsets in a month’s time.
