Largest public sector lender, State Bank of India (SBI) on Sunday revamped its digital banking application ‘YONO for Every Indian’ and also launched Interoperable Cardless Cash Withdrawal (ICCW) facilities. This was done in the backdrop of the lender’s 68th Bank Day. With the new avatar of YONO, customers of any bank will now have access to UPI features like scan and pay, pay by contacts and request money.
In 2022-23 itself, 64 percent or 78.60 lakh savings accounts were acquired digitally through YONO. The upgraded version of the YONO app will empower customers of other banks to embark on the YONO journey, thereby encouraging them to be a part of the ever-growing SBI family, the statement said.
UPI QR Cash functionality
“With the rollout of the interoperable cardless cash withdrawal facility, customers of SBI and other banks can seamlessly withdraw cash from ICCW-enabled ATMs of any bank using the ‘UPI QR Cash’ functionality. The transaction can be facilitated through a single -Use the dynamic QR code displayed on the ATM screen,” the statement said.
It added, “Users can easily withdraw cash using the Scan & Pay feature available on their UPI application. While the unprecedented feature simplifies the cash withdrawal process, it also ensures enhanced security for the customers.” By eliminating the need for entering a PIN or physically handling the debit card, the ICCW facility mitigates the risks associated with shoulder surfing or card cloning, the bank said.
SBI is dedicated to offer state-of-the-art digital banking solutions
Dinesh Khara, Chairman, SBI said, “SBI is dedicated to offering cutting-edge digital banking solutions that empower every Indian with financial freedom and convenience. Keeping in mind our customers’ expectations for a seamless and enjoyable digital experience Well, the YONO app has been revamped.” .This will fulfill our goal of making the mission ‘YONO for Every Indian’ a reality.”
Steps to follow in YONO App
- Login to YONO App using Internet Banking User ID and Password or MPIN
- Select YONO Cash option from home page or from YONO Pay option in home screen or YONO Pay option on hamburger menu.
- On the YONO Cash landing page, under the “New Request” tab, click on the ATM option under YONO CASH
- Select the account to be debited and enter the amount to be withdrawn. Click Next.
- Create your YONO Cash PIN for the specific transaction and click on Next. This PIN will only be displayed on the screen at the time of creation and will not be shared on any channel/enquiry page.
- Review the transaction details, accept the terms and conditions and click on Confirm
- A message is displayed after the successful completion of the app part of the transaction. You can see the nearest YONO Cash Point.
- Your request is registered on YONO and transaction reference number will be sent via SMS to your registered mobile number
Steps to be followed at ATM
- At YONO Cash enabled SBI ATM, click on YONO CASH
- Enter the transaction reference number received through SMS
- Enter the amount to be withdrawn. The amount should be the same as entered while initiating the YONO Cash request
- Then enter the YONO Cash PIN which was created while initiating the YONO Cash request.
- Transaction is valid and authenticated
- Cash is disbursed and transaction is completed
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(With IANS inputs)