Most customers feel comfortable using their debit cards to withdraw money from the Automated Teller Machine.
Some have gone the extra steps of using it to pay for goods and services at the Point of Sale machine.
However, the plastic can do a lot for customers and totally
transform their transaction life if they are careful and versatile with
its usage
A report by www.rediff.com gives more tips on how the debit card can serve the owner.
1. View account balances
With your card, you can visit the ATM, insert the card, and punch
in your Personal Identification Number. Select view account balance to
know your balance.
2. Get mini statements
Mini statements are the shortened version of what your bank sends
to you after every three months. That is your bank account statement.
The bank can also provide you with a printed passbook detailing all
the transactions you have done in a particular month. But if you hate
going to your bank because of the long queues and pesky customers
surrounding the bank’s teller inquiring about their accounts, your ATM
card can be used to give you a mini statement on the go. This statement
gives details about the last five to six transactions on your bank
account.
3. Transfer money between accounts
You have two different accounts with the same bank or different
banks, you can transfer the funds to the account of your choice. For
instance, if your salary is paid into a particular bank but you prefer
to keep your money in another bank, you can always transfer the funds to
your preferred account using your ATM. Go to your bank’s ATM, follow
the procedure and transfer funds from the first account to the second
account. You can use it to pay into another person’s account.
4. Refill your prepaid SIM card
Modern-day technology has helped interconnect telecommunications
with your bank account. Now you can even refill or recharge your prepaid
SIM card at your bank’s ATM.
Again you will need to punch in your PIN and then follow the
commands that appear on the screen till the time you are done refilling
your account.
However, do take care to remember the amount for which you need the
refill. Your service provider should support the amount you key in.
5. Pay your utility bills
This is one facility that helps you cut through long, serpentine
queues. Your ATM card will help you make payments on all these consumer
services.
Just find the nearest ATM kiosk, be ready with your PIN and you
won’t have to spend hours standing in the scorching sun to make your
utility bill payments.
6. Deposit cash or cheques
This is what some conservative bank customers won’t like. For
years, they have been visiting their bank branch to meet the genial
teller at the counter, deposit their cash or cheque, make some small
talk and then go back to do their mundane chores.
The ATMs seem to have dispensed with this old-world charm thing as
well. In fact, many a time you will find your bank encouraging you to
avail yourself of these services using your ATM card.
However, those still romancing the old ways of banking and those
who think that banking is all about people and relationships can visit
their bank’s branch, meet the bankers they know and avail of most of the
services mentioned above.
7. ATM cards as debit cards
This is one facility that spendthrift consumers should take advantage of.
If you have enough cash in your bank account, then you can always
flash your ATM card to buy and pay through the Point of Sale machine.
The transaction process works the same way with your credit card.
The only difference being the use of debit card at a merchant’s outlet
will make you poorer by the transaction amount immediately.
But then, this is always better than using a credit card
considering the amount of complaints you may have against your credit
card company.
Apart from these, you can book your air tickets using your ATM.
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