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Interoperable Cash Deposit (ICD)

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UPI ATM – Interoperable Cash Deposit (UPI-ICD)

UPI-ICD is an Interoperable Cash Deposit service that facilitates participating bank’s customers who are live on UPI, to deposit cash at any participating banks’ Cash Recycler / Deposit Machine (enabled for UPI-ICD) without using their card. Customer can deposit cash in own account as well as any other bank account using (a) mobile number linked to UPI or (b) VPA or (c) Account IFSC of beneficiary using UPI-ICD enabled APP.

Once the customer (depositor) selects the option ‘UPI cash deposit’ at the cash re-cycler / cash deposit machine (CDM), a single use signed dynamic QR code shall be displayed on the CDM’s screen. Customer needs to scan the QR code using UPI App on his/her mobile, select the beneficiary in whose account the cash is to be deposited. Beneficiary’s name shall be displayed on the UPI App for the beneficiary selected by the depositor. Customer to confirm the Beneficiary and authorise the transaction using UPI PIN. After authorization (depositor authentication and beneficiary account validation), the customer shall be prompted to deposit cash in the CDM (Cash slot). Once cash is verified by the CDM and confirmed, a credit shall be processed to the beneficiary account through UPI.

The Deposit can be done in UPI enabled own account or third-party account.

Customer Journey:
Some of the main features of the UPI-ATM ICD service are as follows:

Some of the key features of the service are as follows:

  • Interoperable
  • Card Less Transaction
    • Transaction Limit is less than Rs.50,000/- per transaction. The UPI-ICD transactions allowed to a customer shall be as per the limits defined by Bank.
  • Wider reach with third party deposits using either of the below given Beneficiary’s details:
    • Beneficiary’s UPI Number (Mobile Number)
    • Beneficiary’s Virtual Payment Address (VPA)
    • Beneficiary’s Account Number & IFSC

Note: Customers of (Live) Issuer banks’ can do card less cash deposit to his/her own bank account or other bank account of Live Issuer bank using the UPI APP on UPI-ICD enabled ATMs of Acquirer Banks/WLAOs.