Automated Teller Machine (ATMs), there are many non financial transactions that can be done using ATMs. That is why many banks are still opening ATM branches in spite of reduced footfall. This is because one can do other important transactions using an ATM.
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
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