Cardless Cash Withdrawals
Cash without a card in the UK !
UK customers will soon be able to exchange online funds into cash, without the need for a debit or credit card
Customers are able to buy Ukash at over 420,000 retailers worldwide which can then be used to pay online on thousands of websites. The new collaboration between Bank Machine and Ukash will allow consumers to complete the cash circle by converting their Ukash back into cash at Bank Machine ATMs.
Where users accumulate a balance from online competitions, or have unspent online balance, they can opt to use the "Ukash Out" service which will convert their balance into a unique code. This secure code, along with other identifying information, can be entered into participating Bank Machine ATMs, allowing the Ukash customer to immediately withdraw cash.
It is hoped the new initiative will provide customers' convenient access to their cash, and allow users greater autonomy in online spending as well as maintaining privacy, security and control over budgets.
Wednesday, March 14, 2012