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ATM Benefits : You will be surprised to know the benefits of ATM! Apart from withdrawing cash, you can do these 10 big things

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ATM Benefits : You will be surprised to know the benefits of ATM! Apart from withdrawing cash, you can do these 10 big things

Apart from withdrawing cash from ATMs, there are many other non-financial transactions that can be done. This is the reason why many banks are still opening ATM branches despite the reduced number of customers.

If you use ATM in your daily life then this news is for you. ATM is a computerized machine through which customers can access their account details and withdraw cash without visiting the bank.

Apart from withdrawing cash from an Automated Teller Machine (ATM), there are many other non-financial transactions that can be done. This is the reason why many banks are still opening ATM branches despite the reduced number of customers. Let us know in detail about the 10 major uses of ATM.

Account balance information will be available

Through ATMs, you can get a mini-statement of your account balance and the last few transactions on your account. The mini-statement gives you the details of the last 10 transactions in the account.

Card to card transaction

According to SBI’s website, customers can send cash from one debit card to another. This is a free service through which you can send up to Rs 40,000 daily. For this, all you need is your SBI Debit Card, and the debit card number of the beneficiary.

Credit card payment

Use the ATM to pay any Visa Credit Card bill. Make paperless payment of your credit card bill.

Pay your premium

You can pay your life insurance premium using any bank ATM. Insurers such as LIC, HDFC Life and SBI Life have tied up with banks to facilitate premium payment through ATMs. For this just keep the policy number with you.

order check book sitting at home

You can order your check book through ATM without visiting any branch. Just remember to change your registered address for the same as the check book will be sent to the given address.

Account to account transfer

You can transfer money from one account to another. Explain that a maximum of 16 accounts (savings/current) can be linked to one card.

DCC facility will be available from ATM

According to HDFC Bank, Dynamic Currency Conversion (DCC) is a service through which cardholders can make purchases at international merchants.

Register for Mobile Banking

Register for Mobile Banking through ATM and access banking services through your mobile.

Change pin from atm

You can change your Debit Card PIN at any ATM. Use this service to change your password at regular intervals.

Will be charged for using more than the limit

Explain that banks charge for non-financial transactions in excess of their limit. HDFC Bank will charge Rs 8.50 plus applicable taxes on non-financial transactions above the limit. Whereas all non-financial transactions are free in ICICI Bank.

While SBI customers will be charged Rs 5 at SBI ATMs and Rs 8 at other bank ATMs for non-financial transactions above the limit, in addition to applicable GST rates.

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