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Business Economy

'YONO Cash' launched for cardless withdrawal customers

'YONO Cash' launched for cardless withdrawal customers

Hyderabad, Mar 15 (UNI) YONO SBI – India’s first integrated Omni-channel banking and lifestyle platform – launched ‘YONO Cash’ for withdrawing cash by cardless customers at more than 16,500 SBI ATMs across the country.

The launch of YONO Cash makes SBI the first bank to offer this service in the industry.

The ATMs enabled for this service will also be termed as YONO Cash Point, the bank said in a release here on Friday .

The bank expects YONO Cash to up the ante on customer delight by virtue of its security feature and the convenience of cardless cash withdrawals.

Customers can initiate the cash withdrawal process on the YONO app and set a six digit YONO Cash pin for the transaction.

They will also get a six digit reference number for the transaction on their registered mobile number via SMS.

The cash withdrawal has to be completed within the next 30 minutes using both PIN and the reference number received.

Speaking on the launch, Mr. Rajnish Kumar, Chairman, SBI said, “YONO Cash is yet another step by the bank towards our goal of maximizing convenience and enhancing banking experience for our customers. The initiative will also address their concern of using debit card at the ATMs for cash withdrawals by eliminating possible risk associated with it.

This feature on YONO is designed to help its users withdraw cash without a physical debit card. Through YONO, our endevaour is to create a digital universe by integrating the entire transactions ecosystem under one platform in the next 2 years, he said.

YONO SBI was launched in November 2017, has turned one and continues to witness overwhelming responses from its users.

As of February, 2019, YONO has over 18 million downloads with 7 million + active users.

Telangana Circle Head and CGM Swaminathan, PRO Hanumantha Rao along with few customers were present.


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