What is an Automated Teller Machine (ATM)?
An Automated Teller Machine (ATM) is a computerised machine that allows bank customers to access their accounts, withdraw cash, and conduct other financial operations without having to visit a bank branch.You must first insert your card into the slot provided before entering your ATM PIN. Following that, you can select the options to carry out any transactions you desire.1. View account balances and mini-statements
Get a mini-statement containing your account balance and the past few transactions on your account. Mini-statement gives you an insight into the last 10 transactions in your account.
2. Card to Card Transfer
According to the SBI website, “Send cash in a flash from one SBI Debit Card to the other. Using this free and easy service, you can transfer up to Rs.40,000/- per day instantly to your loved ones. There is no limit on number of transactions. The limit of Rs.40,000/- per day will be common across the C2C and Card to Account facility. All you need is your SBI debit card, your pin and the beneficiary’s debit card number.”
3. Credit Card Payment (Visa)
Use this service to pay the bill of any Visa credit card. Make a paperless payment of your credit card bill.4. Transfer funds between accounts
You can transfer funds between the accounts. A maximum of 16 accounts (Savings / Current) can be linked to a card.
5. Life Premium Payment
Pay your Life insurance premium payment using any of bank ATMs. Insurers like LIC, HDFC Life and SBI Life have tied up with banks to facilitate premium payment through ATMs. Just keep the policy number handy.
6. Cheque Book Request
Order your cheque book without having to visit a branch or fill out any transaction sheets. Remember to change your registered address at the branch because the cheque book will be delivered to the address on file.
7. Dynamic Currency Conversion on ATMs
According to the HDFC Bank customers, “Dynamic Currency Conversion (DCC) helps a foreigner to see the exact amount at the ATM that will be debited from his bank account overseas.”
8. Bill payment
Use ATMs to pay your utility bills viz. Bangalore/Hubli/Chamundeshwari Electricity Supply Company, Karnataka and Chattisgarh State Electricity Board. You need to register the biller on the bank’s website before you can make the payments.
9. Registration for Mobile Banking
Register for Mobile Banking and use Banking services through your mobile. Register or deregister your mobile banking application.
10. Pin Change
One can change the PIN at ATM locations. Use this service to change your password at regular intervals.
Charges
Note that banks do charge for non-financial transactions above the set free limit. Non-financial transactions in HDFC Bank above the limit will be charged Rs 8.50 plus applicable taxes. In ICICI Bank, all non-financial transactions are free. SBI Customers are charged Rs 5 at SBI ATMs and Rs 8 at other bank ATMs for non-financial transactions that exceed the free limit, in addition to the applicable GST rates.
