Instant Money Transfer

Banks have introduced a system of cardless withdrawal from ATMs. Using this facility, a customer can transfer money from his bank account to anyone who may not have a bank account, provided the beneficiary has a mobile number. The beneficiary can be the sender itself; say, the sender does not wish to carry debit card while travelling or has left the card behind.

Such a transaction is initiated by a customer who has a savings account in a bank and wants to remit money to anyone using mobile or internet banking. The recipient is not required to have an account with this bank or any other bank. Withdrawal is possible by the recipient on special ATMs that support cardless cash withdrawal.

The MAXIMUS offering for cardless cash withdrawal system is called TURANTH.

The sender has to add the name of the recipient to the list of beneficiaries using TURANTH and provide the recipient’s name, mobile number and address to the bank. After the sender’s request is accepted by the bank, the bank forwards a code to the sender on his/her mobile phone. The sender has to share this code with the recipient. The bank, meanwhile, would SMS another number to the recipient. The recipient then can visit any of the ATMs that support cardless cash withdrawal and enter his/her mobile number followed by the code forwarded by the sender as well as the number forwarded by the bank. The recipient would now be able to withdraw the exact amount remitted by the sender. TURANTH supports cancellation of a remittance as long as the recipient has not already withdrawn the money.

Banks may specify the validity period for the code that is SMSed to the sender which typically is 14 days. The bank can set limits for transfer of money in this manner which could be per transaction and/or total during a month.


  • No bank account required for the recipient
  • Instantaneous remittance of money using secure banking channel
  • 24×7 cardless cash withdrawal
  • Cash withdrawal possible by sender himself/herself when card not available on person