Commercial Banks Release Code for Cardless ATM Cash Withdrawal as Cash Scarcity Continues
- Commercial banks in Nigeria have introduced cardless ATM cash withdrawal to enable customers to access cash without a physical card
- To collect cash from an ATM without using a card, customers must generate a code on their mobile phones or through their mobile banking app
- The latest innovation in banking technology preaches convenience and comes at a time Nigerians are battling with cash scarcity
As Nigerians grapple with the scarcity of Naira notes, commercial banks have released codes for cardless ATM cash withdrawals.
The feature allows account holders to make withdrawals at ATMs with the aid of their registered phone numbers.
Source: Facebook
The banks that have released these features include Fidelity, United Bank of Africa, Access Bank, First City Monument Bank, First Bank, and Guaranty Trust Holding.
Others are Union Bank, Zenith Bank, Ecobank, Keystone Bank, Polaris Bank, Stanbic IBTC Bank, Sterling Bank, Unity Bank, and Wema Bank.
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Benefits of Cardless ATM Withdrawal
This simplified banking method enables customers to access cash without a debit or credit card.
The Cashout PIN, valid for 24 hours, offers protection against hackers, ensuring a safe and secure transaction.
It also helps customers avoid the hassle of immediately replacing a lost ATM card and the risk of scammers and hackers stealing their bank details.
Banks speak on the cardless ATM withdrawal
Ifeoma Onibuje, Divisional Head, eBanking, Fidelity Bank Plc, speaking on the innovation said:
“We know how frustrating it can be when you get to the ATM only to discover that you forgot your debit card at home.
“To address this and in support of the cashless policy, we recently introduced cardless withdrawals via our ATMs. The service is currently available at all Fidelity Bank ATMs across the country, and we are recording favourable feedback from customers who have used the service.”
Banks shortcodes to make a cardless ATM withdrawal
- First bank- *894*0#
- Fidelity bank- *770*8*Amount#
- UBA- *919*30*Amount#
- Access Bank- *903#
- GTB- *737*50*Amount*50#
- FCMB- *329#
- Union Bank- *826*7#
- Zenith- *966*60#
- Ecobank- *326#
- Keystone- *7111#
- Polaris- *833#
- Stanbic IBTC- *909#
- Sterling Bank- *822#
- Unity Bank - *7799*8*amount#
- Wema- *945#
Steps to carry out cardless withdrawal
- Dial the banks code on your mobile phone or use the bank's mobile app.
- Enter the amount you want to withdraw and create a one-time withdrawal PIN.
- You will receive a code via SMS that you will use to withdraw cash from an ATM.
- Go to any ATM with a cardless withdrawal feature, select "Cardless Withdrawal," and follow the on-screen prompts.
- Enter the code you received via SMS, your one-time withdrawal PIN, and the requested amount.
- Collect your cash and receipt.
CBN speaks as banks pay in old naira notes, customers reject
Meanwhile, in another report, the Central Bank of Nigeria has spoken about banks paying customers in old naira notes
The payments have been met with widespread rejection forcing customers who collected the old notes to return them
Despite the Supreme Court's 10-month extension, Nigerians are still uncertain about the legality of the old 1000 and 500 banknotes as legal tender.
Source: Legit.ng
