An automated teller machine or  bank ATM card benefits go beyond just allowing cash withdrawal. It has many more advantages like account balance inquiry through mini statement, insurance in case of accidental death or disability, new cheque book request, deposit or transfer money etc. So, an ATM card is very important indeed and those who have them should know the various ATM card benefits.

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Here we list out the following top 5 benefits of having ATM card:

1] Deposit and transfer of money: Your ATM card not only allows you to withdraw money, it can help you even deposit money in the deposit machine without visiting your bank. If you do not have a net-banking facility then also you can transfer your funds through ATM machines by inserting the ATM card and choosing the transfer option and entering the details of the beneficiary for making the successful transfer of payments. But, money transfer through ATM is possible if the beneficiary has a bank account in the same bank.

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2] Details of transaction: Everybody know that asking for bank statement may incur charges. So, one can fish out the mini-statement from the ATM by using one's ATM Card. It is free and getting mini-statement doesn't get included in the number of free ATM transaction allowed by the bank.

3] Request for new cheque book: If you don't use net banking, then your ATM card will be useful in generating request for new cheque book from the ATM. What you need to do is to go at the nearest ATM, use your ATM card and put request for the new cheque book rather driving down to your branch for putting the new cheque book request.

4] Free from any charges: Unlike Debit card, ATM card is given free of cost as banks doesn't charge ATM card holders anything. So, rather than having a debit card that incurs annual charges, it's better to keep ATM Card and avoid annual charges.

5] Unlimited cash transaction: Unlike debit card, banks provide unlimited cash transaction facility through the ATM card within a month without incurring any additional charges. So, having an ATM card helps you avoid cash withdrawal transaction limit, which is a huge advantage of having an ATM card instead of debit card.

So, next time when you go to your bank for ATM card, don't fall prey to the lure of credit or debit card.