Various Services You Can Access Through ATMs

Automated Teller Machines (ATMs) are the electronic banking devices that let you carry out various financial transactions. Thee include cash withdrawals, balance inquiries, deposits, fund transfers as well as bill payments. With ATMs, you need not require any bank teller or even a representative. They are open to get accessed 24/7 and are available for the basic banking services at all times.

ATMs – Various Services Provided

Here are some of the key functions of an ATM:

Cash Withdrawals

ATMs can be used to conveniently withdraw money through a debit card, which is also an ATM card usually. This can be done by simply inserting the card into the space provided in the machine, then entering the PIN fixed by you earlier and finally entering the required amount that you want to get withdrawn in cash.

This is one of the most important services provided. In fact, these days no one wants to carry cash, that too, in huge amounts. With ATMs you can withdraw money as and when required, thus also ensuring that there is much more financial safety.

Balance Inquiries

At times, we need to know the bank account balance. You can get this done at ATMs also, though there are now simple online means to know the bank balance such as that through your smartphone within minutes.

Account Deposits

There are certain ATMs that come with the option for you to even deposit money. You can deposit money which is counted and verified by the machine. You may even deposit a cheque and get that amount credit to your account directly via an ATM.

This is basically done by the CDMs or the Cash Recycler Machines. CDMs are also similar to ATMs but their main function is to let you deposit cash instead of withdrawing the same.

Fund Transfers

Another of the key functions is the ATMs letting you make fund transfers between accounts. It eliminates the need to physically visit a bank branch to transfer funds. You can easily do so within no time using the ATMs. Again, using smartphones also one can do the same from the comfort of your home, but ATMs are also an effective means to get the task done.

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Other Services Provided at ATMs

Here are some of the other services provided at ATMs:

Core Services:

While we have discussed some of them, the others are as follows:

• PIN Changing: This lets you change your PIN, that is the Personal Identification Number, for security reasons. In fact, it is advised that we keep changing the PIN on a periodic basis so as to ensure greater security.
• Mini Statement: This statement can be received from ATMs with details that contain a brief summary of the financial transactions you did using that account.

Deposit and Payment Services by ATMs:

While there is no lack of banking tasks you can get done with ATMs in the country, here are some of the deposit and payment transactions you get to perform with the machines:

• Paying Bills: You can directly make bill payments such as the utility bill payments directly from your bank account – from an ATM.
• Recharging Your Mobile Phones: ATMs can also be used to recharge your mobile phone’s prepaid balance. Such tasks can be done easily via various means available, but ATMs give you an alternative option in case you are unable to make use of any other mode to get the payments done on an immediate basis.
• Even Making Tax Payments: While you get to do so much with these machines, you can even pay your tax with them. This is inclusive of the income tax payable.

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Other ATM Services Available:

• Requesting Cheque-books: You can request a new cheque book from the bank for the account.
• Requesting FDs: You can apply as well as withdraw from Fixed Deposits at ATMs.
• Aadhaar Seeding: Get your Aadhaar card linked to the bank account of yours via the ATM.
• Getting Your Card Activated: Newly issued debit cards or credit cards can be activated here.
• For Loan Applications: Lastly, some ATMs may even let you apply for personal loans.

There is no end to what one can do with these automated teller machines to get the required task done in no time and at so much ease and convenience.

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