The news is out on the Bank ATM! Do you know about the facilities available from bank ATMs, which are available in addition to cash transactions?
The vast majority of people are under the impression that the only thing that may be taken out of an ATM is cash. However, automated teller machines can be used for various purposes besides the withdrawal and deposit of money.
Even if digital transactions have made transaction methods much simpler today, automated teller machines (ATMs) still hold a significant role in the market. People continue to withdraw cash from ATMs without any discernment or caution. The vast majority of people are under the impression that the only thing that may be taken out of an ATM is cash. However, automated teller machines can be used for various purposes besides the withdrawal and deposit of money. If you are one of the many people who need to be made aware of it, you may learn more about it here.
Also Read >> Canara Bank Has Increased The Maximum ATM Withdrawal Limit
Fund Transfer Facility
In addition to withdrawing cash, you can also transfer funds using ATMs. For instance, you can perform a card-to-card transfer of up to Rs 40,000 per day from one SBI Debit Card to another SBI Debit Card at SBI ATMs. In addition, most banks also offer the possibility of opening an FD, also known as a fixed deposit, directly from an ATM. At the ICICI Bank ATM, you can take advantage of this service. It would be best if you had a Residents Savings or Salary account with ICICI Bank to do this. Additionally, you will need a debit card and a personal identification number (PIN).
Option to alter one’s PIN
If you find yourself in a financial bind and wish to borrow money from the bank, you can do both through an automated teller machine (ATM). Some financial institutions also offer lending services via automatic teller machines. ATMs provided by ICICI Bank and HDFC Bank both offer this feature to their customers.
Recharge Station for Mobile Devices
If you are in a location where there are issues with internet connectivity, you can still reload money onto your mobile device by going to an ATM. Along with the SBI, a significant number of other banks also offer this service in their automated teller machines. On the other hand, you can pay your utility bills, such as your power and water bills, by going to an ATM. This functionality can be accessed through various institutions’ automated teller machines (ATMs), including SBI. You can also pay your credit card bill at an ATM if you choose to. You will need to know the number on your credit card to complete this.
Availability of Cash Deposits
ICICI and SBI are the only banks offering this feature on their automated teller machines (ATMs). Both cash deposits and cash withdrawals are possible at this location. You must either deposit money using a check or place cash in the ATM machine to accomplish this. However, the WLA does not accept deposits in the form of cash.