With more people becoming mobile friendly and tech free due to convenience, now doing financial transactions are easy and not time consuming like before.
As the Reserve Bank of India has reduced number of free ATM usage, individuals are now banking on mobile and on internet. This step was initiated to reduce the footfall at banks.
We have considered SBI Bank as an example as it is India's most preferable bank. Do not worry if you are banking with another banks as most of the procedure remains same and most of the banks are still adopting for this feature as it expensive.
How to Transfer money from SBI ATM?
You should have SBI Debit Card with you along with the PIN. One should also the know the debit card number of recipient
- Swipe your card in the machine
- Click card to card Transfer
- Enter Debit Card number of the recipient (twice)
- Enter the amount
- Select the account type such as savings or current account
- Before leaving the ATM, verify the amount you entered and the in the receipt is same.
Note: The current limit is Rs 5,000 a day and Rs 25,000 a month.
This facility can be availed when you are not a android mobile user, or not registered your mobile number or when there is no internet connection.
In such transfer there is no need of Account number, IFSC code. But one needs to be careful, while entering debit card number if by mistake wrong number is entered, you should be ready to struggle to get back the money.