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 Rediff 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. 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.
3. 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 banks
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.
4. 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.
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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