Wondering, ‘Can I transfer money from an ATM?’, the answer is yes and this option can come in handy when you don’t have internet access and don’t want to make a branch visit.
Moreover, it’s an easy process very similar to withdrawing cash. That’s not all. Most banks also provide a plethora of services, making it a comprehensive option. Read on for a quick step-by-step guide and more.
How to Transfer Money from an ATM?
Here are the simple steps you need to follow:
- Step 1: Visit your nearest ATM
- Step 2: Insert your debit/ATM card
- Step 3: Select your preferred language
- Step 4: Enter your ATM PIN
- Step 5: Select the ‘Fund Transfer’ option
- Step 6: Enter the beneficiary’s required bank details
- Step 7: Enter the amount and click on ‘Yes’
Once the transaction is complete, you will get a notification on the email ID and mobile number linked to the bank account.
If you don’t confirm the payment within a certain time frame, your payment won’t go through. Thankfully, you can just repeat the above steps and finish it. You can also try other options, such as:
- IMPS
- NEFT
- UPI
- RTGS
However, you will need internet access if you plan on using these options online. If you cannot, visit your bank’s branch and complete the process offline with assistance from an executive. Note that offline transfer can take time and may not get reflected on the same day.
Also Read: How To Transfer Cash From a Credit Card
Benefits of ATM Money Transfer
Now that you know how to transfer money from an ATM card to another account, here are some of the top benefits you can enjoy:
- You can avail of this facility without any banking hour restrictions
- You can send money even on bank holidays
- You can use other bank’s ATM at nominal charges
- You don’t have to rely on a banking executive to conduct fund transfer
- You can avoid long bank queues
- You can transfer funds immediately without having to wait
Other Services Available at the ATM
Along with fund transfers, here are other services you can enjoy:
- Cash Withdrawal: Get instant access to funds from your account without any hassles
- Balance Enquiry: Know your savings and current account balance without additional charges
- Cash Deposit: Ensure sufficient balance in your account by depositing cash without visiting the branch
- Bill Payment and Recharge: Pay your utility bills in just a few clicks
- Register for Aadhaar: Easily link your Aadhaar and bank account, which is mandatory
- Insurance Premium Payment: Easily pay your premium and ensure your policy doesn’t lapse
- ATM PIN Generation: Set your PIN for debit card and make easy payments hassle free
- Open an FD Account: Transfer funds in a fixed deposit account easily and receive the documents at your registered address
- Mutual Fund Investment: Invest in MFs directly from your account, provided you have registered for the service
In conclusion, you can use an ATM for many other services besides transferring funds. However, you must have sufficient balance to be able to enjoy the services. Thankfully, if you are short on funds, you can apply for an Online Personal Loan and get financing of up to ₹5 lakhs in just a few clicks.
Applying on Fibe is easier and more convenient due to minimum paperwork, easy-to-meet eligibility criteria and a 100% digital application process. Moreover, you get funds at an affordable interest rate starting at just 2% per month, which makes it a suitable option. Download the Instant Personal Loan App or visit our website to apply now!
FAQs on ATM Money Transfer
How can I transfer money from an ATM to another bank?
Select the ‘Fund Transfer’ option after entering your PIN. After that, you just have to provide the required details and click on ‘confirm’.
How can I transfer money from an ATM to a mobile number?
Here is a step-by-step guide you can follow:
- Step 1: Enter your card and select the language
- Step 2: Enter your PIN
- Step 3: Click on IMPS fund transfer
- Step 4: Enter mobile number and MMID
- Step 5: Enter the amount and confirm
Can I transfer money from an ATM card to another account online?
Yes. You can use a payment app but ensure that you are registered for the services.
What is the maximum amount that I can transfer through an ATM?
There isn’t a fixed ATM transfer limit. Thus, it depends on your bank policies and card type.
