How To Transfer Money From an ATM Card to Another Account?

Updated on: 1 Feb 2024

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!