Aadhaar & Fingerprint Based ATM : This is an ATM service that allows a person to pull cash from an ATM by providing Aadhaar Card number and biometrics. With this service, you do not need an ATM Debit Card or PIN to withdraw cash from an ATM.The DCB is a private sector bank that offers a range of banking products for small business and micro businesses, NRIs and individuals.The DCB Bank customers can make transactions by using biometric details without a PIN provided your Aadhaar Number is linked to your bank account. You can either swipe your card or enter the Aadhaar number. Then for confirming the identity you have to provide biometric details like fingerprint or iris details.
DCB Bank launched Aadhaar Based ATM To Withdraw Cash without ATM CARD or PIN
Benefits of Aadhaar ATM Service: There is no need to carry any ATM Card in your wallet. You do not have to take the trouble to memorize your PIN # or change it often. Whenever you need cash simply provide Aadhaar Details and Biometric Verification and you can withdraw the cash. Also, there is a problem once the ATM card is lost as this process is long and you have to wait till you receive the new ATM Card.
Instead of waiting all the time out this is a service you do not require an ATM card. One more benefit is the biometric security is said to be better than ATM PIN #. As the Aadhaar Card Number is not private, people were reluctant to use the service but here, the biometrics is safer.
Aadhaar ATM Service Availability: The service will take a time to go down well in a populated nation. The DCB earlier announced the service will expand to its 400 ATMs countries wide in the next six months. This was back in the month of June and we are still awaiting an update on this. This is definitely a great service that is easier than an ATM card withdrawal but there are other issues.
As the service usage increases, it is more likely this can result in errors with Aadhaar Card listing and storage for correct biometric details in the database. With the whole country still unable to cope with the sudden demonetisation of higher value currency this service looks like it will take time before expanding to the whole country. Stay tuned for more news and updates : Indiantalks .