The ATM is no longer just a machine to withdraw and deposit cash. In fact, it’s a mini bank branch where you can do a host of financial activities and, that too, at your own convenience. Here are some of the financial transactions that you can do at your bank ATM.
Transfer funds. HDFC Bank allows you to link as many as 16 savings and/or current accounts to a single card. So, if you have multiple accounts linked to your ATM card, you can transfer money from one to another. ICICI Bank allows you to transfer up to Rs1 lakh per day. The cap may vary for other banks, but transfers are typically allowed between accounts in the same bank.
Open FDs. ICICI Bank lets you open a fixed deposit for any amount between Rs10,000 and Rs49,999 for tenures of 390, 590 and 990 days. The account will be opened within three working days of receiving the request. You will, subsequently, get a receipt for the payment within seven working days.
Pay your Tax. Register your debit card on your bank’s website for tax payments through ATM. The registration process validates your permanent account number (PAN) with the National Securities Depository.
The ATM income tax menu displays your PAN and asks for the tax amount. The amount is debited from your account and the ATM generates a receipt with a special number (SIN). After 24 hours, you can download a challan from the website by keying in the SIN. You will have to quote the SIN when you file your tax return online.
Utility bills. Using HDFC Bank’s BillPay facility, you can pay your bills for five different electricity consumer numbers, for five phone numbers and five insurance policy numbers. SBI, HSBC, Canara Bank and Axis Bank also offer this service. You may get a discount at certain bank ATMs.
Mobile recharge. By clicking on the instant mobile refill icon and choosing your service provider you can top up your prepaid phone within seconds.
Railway/airline tickets. You can buy railway tickets through SBI, Punjab National Bank and Bank of Baroda ATMs installed at stations. As you select the service and key in the details the ATM generates a printed ticket. Kingfisher airline tickets can be booked through Karur Vysya Bank and Indian Bank ATMs, but you need call customer care and get the booking reference number (BRN) first.
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