Cash-out is the withdrawal of electronic value as banknotes, described in detail under wallet cash-out. A customer of a mobile money service or digital wallet asks an agent for cash, authorizes a transfer of the same amount from the wallet to the agent, and receives the notes. It is the reverse of cash-in, and the two together are often abbreviated CICO.
Most cash-outs take place at a mobile money agent, though some providers also support cardless withdrawals at an ATM using a one-time code. The transaction increases the agent's electronic float and reduces the cash in the till, so agents in areas that mainly receive money can run short of notes. Unlike cash-in, cash-out usually carries a customer fee, which is a main source of revenue for mobile money providers and of commission for agents.
The term has other senses. In remittances it can mean collection of a transfer in cash. In cryptocurrency it refers to converting digital assets into ordinary money through an exchange or off-ramp. In fraud, cashing out is the stage at which criminals turn stolen cards or account balances into money they can keep.