In today’s world where people lead a fast and hectic life, transfer of
funds from an account to account in an old-fashioned way is not a preference,
as one requires to take time out from the busy schedule to visit the bank to
process the transaction. Now with the digital banking set-up, there are various
ways of money transfer through online, and ATM cum debit cards have made things
convenient and easy. Let’s know how to transfer money from an ATM.
Even though the funds can be transferred through mobile banking and net banking, the most favoured choices; transfer of funds through ATM is widely used. The benefit is money transfer from ATM can be transacted through any nationalized or private sector banks.
You can easily do debit card to debit card money transfer or one account to another account through ATM.
How to do account to account transfer of funds via ATM?
Even though the funds can be transferred through mobile banking and net banking, the most favoured choices; transfer of funds through ATM is widely used. The benefit is money transfer from ATM can be transacted through any nationalized or private sector banks.
You can easily do debit card to debit card money transfer or one account to another account through ATM.
How to do account to account transfer of funds via ATM?
Using the ATM
facility, you can transfer fund from one bank account to another bank account. If
you are pondering how to transfer money from ATM you should follow the steps given
below:
Visit an ATM and insert the debit card in the ATM machine.
Select the preferred language.
Enter the debit card PIN and select ‘Yes’ to proceed.
Then select the “Fund Transfer” option given at the bottom-most
corner of the screen display.
Enter the receiver's bank and account number.
Select the type of account – savings bank account or current
account.
Put in the amount to be transferred and select ‘Correct’.
Then select ‘Yes’ to confirm the amount entered.
The fund will be successfully transferred once you provide
the fund transfer amount. If a transaction is not processed within the time
limit given, then ‘time out’ message will be displayed. In such situations, the
account to account transfer from the ATM process needs to be repeated.
Features of money
transfer from ATM
Debit card to
debit card money transfer are quick and easy mode.
The money transfer facility can be done by visiting the
nearest ATM.
ATMs lessen the work pressure on bank staff, and you can
avoid long queues in the bank branch.
As far as ATMs are concerned, there is no possibility of human
error. So, the funds are transferred safely.
Other options to
transfer money
Mobile Banking
Customers can move
funds via mobile banking by downloading the official mobile banking application
offered by the bank. The account holders can easily access services like the mini
statement, fund transfer, balance enquiry, utility bill payments, and much more
anywhere and anytime by using the mobile banking application,
By visiting the
bank branch
Customers can
visit their respective bank branch as well and submit the fund transfer form
for transfer of funds. Account holders can opt for RTGS, IMPS, NEFT or intra-bank
fund transfer depending upon the requirement.
Internet banking
To avail net
banking services facility, account holders require to register and sign up for
the same. Once enrolled for the internet banking facility, the account holder
can access their account using the Customer ID and net banking password to
transfer funds anytime and anywhere.
Following details
would be needed during internet banking –
Name, account number and IFSC code of the recipient.
Amount to be forwarded.
