VTB customers will be able to withdraw cash using a QR code at ATMs
Users of the new VTB Online app will be able to withdraw up to 150 thousand rubles (USD $1,953) at ATMs without using a card – you only need a QR code. The new technology is twice as fast as normal card withdrawals. In its initial stage, it is available in 85% of the bank's ATMS across Russia. VTB estimates that the monthly audience for this feature will be about 4 million customers. The new functionality will be available in VTB Online until the end of November.
To use the service, the customer must select the "Services without a card" menu at the VTB ATM, enter the required amount in the "Withdraw cash by QR code" transaction, and go to the screen where the QR code will be generated. Then customers must log in to the VTB Online app on their phones and scan the QR code from the ATM screen. To confirm the operation, the user must enter the password on the phone (pass code, Face ID, or fingerprint depending on the settings in the app). After that, the transaction is confirmed and the client receives money and a receipt.
The maximum withdrawal limit is 150 thousand rubles per month (USD $1,953) and 10 thousand rubles (USD $130) per day.
"We strive to integrate the new VTB Online services even into the usual offline operations in order to help customers at any stage of service in the bank. Withdrawing cash using a QR code is, in many ways, a breakthrough in the Russian banking market. The service is available completely without a card or the PAY app and saves the customer time compared to a standard operation at an ATM. In the future, it will allow customers to completely abandon the use of cards or use only their digital counterpart, " says Nikita Chugunov, Head of the Digital Business Department,Senior Vice President of VTB.
The new technology will be available in 12,500 VTB devices across the country, which exceeds 85% of the entire ATM network. In the future, the bank plans to scale the functionality of cash withdrawal at ATMs without a card to the entire network of 15,500 devices.