10 amazing uses of your bank ATM card
ATMs aren't just for withdrawals. Use them for fund transfers, bill payments, insurance premiums, checkbook requests, mobile banking activation, and more.
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FollowWe often think of ATMs as just for cash withdrawals. But did you know you can accomplish ten different tasks with a bank ATM?
Cash Withdrawal:
Withdraw cash from the ATM. For example, when using a debit card, you need to remember your PIN. You can withdraw cash by inserting your card into the ATM. Similarly, you can deposit cash.
Balance Inquiry:
Check your account balance. Many people use this regularly. You don't need to visit the bank. You can see the transactions made in the last ten days. This acts as a mini-statement.
Fund Transfer:
According to SBI, you can transfer up to Rs. 40,000 daily from one SBI account to another using a debit card. SBI doesn't charge any fees for this. You need your ATM card, PIN, and the recipient's account details.
Credit Card Payment:
Pay any Visa card balance through the ATM. You need your card and PIN.
Account to Account Transfer:
Transfer money between accounts using the ATM. You can link up to 16 accounts to one ATM card. After this, you can visit the ATM and transfer money without worry.
Insurance Premium Payment:
Pay insurance premiums using the ATM. LIC, HDFC Life, and SBI Life have tie-ups with banks. You can pay your insurance premiums under this facility. You need your insurance policy number, ATM card, and PIN.
Checkbook Request:
Don't worry if you've run out of check leaves. Visit an ATM and request a new checkbook. It will be delivered to your registered address. If your address has changed, update it while requesting the checkbook at the ATM.
Bill Payment:
Pay utility bills using the ATM. First, check if the billing company is linked to the ATM network. Before sending money, register the payee details on the bank's website. Currently, only a few people use ATMs for bill payments, with most preferring UPI.
Mobile Banking Activation:
Banks now activate mobile and internet banking upon account opening. Visit an ATM to activate your mobile banking. You can also deactivate it if you don't need it.
ATM PIN Change:
Change your ATM PIN at the ATM. It's generally safe to change your PIN. People close to you might know your PIN. Therefore, it's advisable to change it. Frequent PIN changes can also protect you from cyber fraud.
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