10 Hidden ATM Features You Didn’t Know About Beyond Cash Withdrawals: When we think of ATMs, the first thing that comes to mind is withdrawing cash. The primary purpose of ATMs is indeed to offer quick access to money without the need to visit the bank. However, ATMs offer a wide range of other useful services that many people are unaware of. Let’s explore 10 additional tasks you can accomplish at an ATM, aside from just withdrawing money.
Cash Withdrawals
The most well-known feature of an ATM is withdrawing money. To use this function, all you need is your ATM or debit card, along with the PIN. Simply insert your card, enter your PIN, and you can access the funds in your account.
Check Your Balance and View Mini Statement
ATMs allow you to quickly check your account balance. Additionally, you can view a mini statement showing your most recent transactions. This can be helpful to track spending, with the ATM typically showing the last 10 transactions.
Transfer Money from One Card to Another
Did you know you can transfer funds from one debit card to another? According to the State Bank of India’s website, you can send up to ₹40,000 per day between two SBI debit cards without any extra charges. All you need is the ATM card, your PIN, and the recipient’s card number.
Make Credit Card Payments (VISA)
You can also pay your VISA credit card bills via the ATM. To do this, simply have your credit card with you and remember the PIN. This function is convenient for paying off dues without needing to visit a branch.
Transfer Funds Between Accounts
If you hold multiple accounts with the same bank, you can transfer money from one account to another using your ATM card. You can link up to 16 accounts to one card, making it easy to transfer money securely and conveniently at the ATM.
Pay Life Insurance Premiums
Some banks have partnered with life insurance companies like LIC, HDFC Life, and SBI Life to allow you to pay your life insurance premiums at the ATM. All you need is your policy number and ATM card, and you can complete the payment directly from the ATM.
Request a Cheque Book
If you’re running low on cheques, there’s no need to visit the bank. ATMs allow you to request a new cheque book. The cheque book will be sent directly to your registered address. If your address has changed, ensure you update it while requesting the cheque book.
Pay Utility Bills
ATMs also offer bill payment services for utility bills, such as electricity, water, and gas. Before making a payment, you must check if the service provider is partnered with your bank. You will also need to register the biller on your bank’s website before paying, although most people now prefer to use UPI for bill payments.
Register or De-Register for Mobile Banking
If mobile banking is not activated for your account, you can register for it at the ATM. On the other hand, if you no longer wish to use mobile banking, you can easily de-register from the service via the ATM.
Change Your PIN
To ensure your ATM card remains secure, you can change the PIN directly at the ATM. This is especially useful if you suspect your PIN is compromised or if you simply want to update it for security reasons. Regularly changing your PIN is a good practice to protect yourself from cyber fraud.
In conclusion, ATMs are not just limited to cash withdrawals. With the variety of functions they offer, they provide a convenient way to manage many banking tasks without stepping into a branch. So next time you visit an ATM, explore these additional services that can make your banking experience even more efficient!