What Are Some Of The "Other" Services Provided By A Bank?

Synopsis

Apart from cash withdrawal and checking account residual, ATMs today offer multiple facilities for the convenience of bank customers.

ET Wealth lists ix useful services that can be availed from an ATM, apart from greenbacks withdrawal and checking business relationship residuum.

ane. Open or withdraw a fixed deposit
Yous can open a fixed deposit with your bank using an ATM.
Select 'Open Stock-still Eolith' on the ATM menu, select the duration, enter the amount and ostend the other necessary details.

ii. Recharge your mobile
Prepaid services of most mobile operators can be recharged from an ATM.
You can also recharge mobile phones of friends or family members in the same manner.
Select 'Mobile Recharge', enter your mobile number and re-confirm, then enter the recharge corporeality.

3. Pay income revenue enhancement
Some banks offer the convenience of paying income taxation using ATMs. This includes advance tax, self-assessment revenue enhancement besides as tax due afterwards regular assessment.
You need to register for the facility on the bank'due south website or co-operative first.
Once the amount is deducted from your business relationship, the ATM will generate a unique number (CIN). You lot can visit the bank website after 24 hours and print the challan using the CIN.

four. Deposit greenbacks
Many banks take installed cash eolith machines in ATM kiosks.
One tin deposit upwardly to Rs 49,900 per transaction.
Denominations of Rs 100, Rs 500 and Rs 1,000 are accepted.

five. Pay insurance premium
Insurers like LIC, HDFC Life and SBI Life have tied upwardly with banks to facilitate premium payment through ATMs. Just keep the policy number handy.
Get to 'Bill Pay', select insurer, enter policy number and engagement of birth or mobile number, and then enter premium amount and confirm.

6. Apply for personal loan
To avail of minor ticket personal loans, you lot don't demand to arroyo a bank branch or speak to a telephone banking executive. Some private sector banks at present offering pre-approved personal loans for customers using ATMs as the bespeak of disbursal.
The loan amount is decided using advanced analytics, which take into account the customer's transaction details, account balance, salary credits, and credit and debit bill of fare repayments.

7. Transfer cash
If you do non have access to Netbanking, funds can exist transferred from your bank account to that of another bank using an ATM.
Y'all need to register the beneficiary account online or at bank co-operative.
Upto Rs 40,000 tin can be transferred to the beneficiary business relationship in a solar day, with no limit on the number of transactions.

8. Pay your bills
You lot can pay utility bills like your telephone neb, electricity bill, gas beak and others through ATMs.
Yous need to annals the biller on the bank'south website earlier y'all tin can make the payments.

9. Book railway tickets
Public sector banks like SBI and Punjab National Banking concern, among others, offer the facility at select locations on railway premises.
As of now, only long distance reserved tickets are issued this way.

Some of these tasks are better served by newer channels
Transfer of cash, pecker payment, booking of railway tickets and paying insurance premium do not require a visit to the ATM. They can be done through Netbanking and mobile banking.

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