You Can Now Withdraw Cash from OCBC ATMs With Just Your Phone

By
Shawn Ambrose
-

It’s finally lunchtime after hours of hard work. You’re out of cash, so you make a trip to the ATM.

There’s a long line at the ATM but that delicious plate of chicken rice isn’t going to buy itself, is it?

So, you wait patiently for ten minutes.

Then, when it’s your turn, you take your wallet out only to realize you’ve left your ATM card at home. Then, you walk away sadly with an empty wallet and an emptier stomach.

Image: Giphy

If this has happened to you, OCBC bank might have a solution.

Withdraw cash using QR codes

In a press release on Wednesday (July 31), OCBC Bank announced a new initiative that will allow customers to withdraw cash at ATMs using QR codes on their smartphones.

The bank reported that while mobile banking usage has tripled, there are still 3 million cash withdrawals being made at ATMs every month.

This initiative will also reduce the time taken for withdrawals from 80 seconds to under 45 seconds.

Customers simply have to scan a QR code using the OCBC Pay Anyone app, authenticate the transaction with a fingerprint, faceprint, or mobile banking login credentials, and choose the desired amount.

It’s almost as easy as choosing a life partner on a dating app.

“More secure”

According to OCBC, using QR codes is also “more secure” than a PIN because it utilizes “biometric authentication”, while a PIN number can be revealed or stolen.

They added that “A physical ATM card can be skimmed while a mobile device cannot.”

Furthermore, even if a phone gets stolen, they will not be able to gain access to the customer’s bank account because it requires biometric authentication.

ATMs still essential

Mr Aditya Gupta, head of OCBC’s digital business for Singapore and Malaysia, said: “As we accelerate our drive to go cashless, we also recognise that ATMs are still an essential and frequently used touchpoint for our customers.”

“Increasingly, more of these customers are getting familiar with and scanning QR codes to pay, and we wanted to bring them the same ease, speed, and security when they get cash at our ATMs.”

So how do you make a QR code cash withdrawal?

  1. Click on “Withdraw cash with OCBC Pay Anyone” on ATM screen
  2. Log into the OCBC Pay Anyone app
  3. Scan the QR code on the ATM screen
  4. Select the amount to withdraw or key in your preferred amount
  5. Cash is dispensed from the ATM

Here’s a video demonstration:

OCBC Bank – QR Code Cash Withdrawal

Our customers make close to 3 million ATM cash withdrawals monthly. With QR code cash withdrawals, your trip to the ATM just got better – no ATM card and PIN required. Just scan a QR code using the OCBC Pay Anyone app and tap on the amount you need!

Posted by OCBC Bank on Tuesday, 30 July 2019

This new service is available at all OCBC ATMs except the 22 new ATMs which accept both coin and cash deposits.

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Shawn Ambrose
Email: [email protected]