The world of Automated Teller Machine (ATM) is currently a highly advanced and unimaginably useful tool for your money. With this, we do not mean by the traditional services that an ATM provides you like cash withdrawal, balance enquiry, PIN change or even bank statement. Even though Prime Minister Narendra Modi wants India to become a cashless economy. RBI data shows that as on November 2018, somewhat 838.92 million transactions were made using debit cards at ATM which were worth Rs 2,778.69 billion. But did you know, apart from traditional cash withdrawal an ATM is a very useful tool for you especially when it comes to paying income tax, invest in mutual funds, open fixed deposits, mobile recharge, even apply for a personal loan and many more. One might wonder this is not possible, but to your surprise, you have read it right and it quite true. 

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Here’s a list of services that an ATM can offer you apart from normal transactions. 

Pre-approved personal loan application! 

This facility is not famous among many citizens. In fact, barely anybody knows that your ATM can help you apply for a personal loan. It needs to be noted that, a bank looks into your account’s transaction details, repayment history, credit score etc. for disbursing a loan. You can apply for a personal loan instantly at your ATM. 

For example, ICICI Bank on its website reveals that after cash withdrawal a personal loan pre-qualified offer message is shown to the customer with the maximum offer amount a customer is eligible for. One can proceed further for the application. Once accepted for a personal loan, the next screen at ATM shows six offers that a customer is eligible for a personal loan. Next screen displays standard MII which is applicable to all customers. 

Thereby, at ATMs a customer can accept interest rates, tenure and various charges for a personal loan and then confirm the bank’s term and conditions to finally get the amount credited in your account. 

2. Bill Payments! 

Days are gone for standing in a queue of a post office to pay your bills. ATMs have now come in quite handy, all you have to do is just visit your nearby bank branch ATM, insert your debit card and enter your PIN to use the option. You can make payment for utility bills like electricity, gas cylinder refueling, etc. 

3. Fixed deposits investment! 

This saves you from a lot of time and effort. Firstly for investing in FDs at ATM a person must make sure that this facility is offered by their bank. Most of the private banks and major state-owned banks do offer this service to Indian residents. For requesting for creating an FD a customer will have to authenticate their debit card and PIN and specify for the investment amount and tenure at ATM. What happens is after sending the request, a bank creates an FD generally 3 working days through ATM channel from a customers availability of funds in savings account. 

Once done, a bank sends the fixed deposit receipt at the registered address of the customers. 

4. Mutual fund Investment! 

In case of mutual funds, these services through ATM are depended upon your registration. Hence, make sure you are registered before using the service. A person can link their mutual funds with their debit cards, which then can be used to withdraw money from their schemes or purchases from an ATM. 

5. Feeding Aadhaar details with bank account! 

This process is quite common, in fact, many banks ask their customers to register their 12-digit biometric Aadhaar card with their account through ATMs. One can feed Aadhaar details or register them with their bank account, by logging into an ATM and select registration button on the screen. A customer will receive seeding confirmation within 24 hours of the registration process. 

6. Pay insurance premium! 

Now paying insurance premium has been made hassle-free. In fact, anywhere you are, you can always fulfill the deadline of paying your premiums via ATMs. Many insurers like LIC and SBI Life offer this facility to their customers. This section can be selected in the bills pay option at ATMs. After feeding in details like insurance provider, policy number, date of birth, premium amount, one can conform to complete the transactions.

7. Mobile recharge! 

This avoids the trouble of searching for a telecom retailer to make recharges. In fact, mobile recharge at ATMs, become quick and simply easier. Many banks like HDFC Bank, ICICI Bank, SBI, Federal Bank, Axis Bank, Corporation Bank, etc. do offer this service. A customer only has to provide a connection number and the recharge amount at an ATM to carry this process.

Once done, an amount will be deducted from your bank account instantly and your mobile/DTH would be recharged immediately.

8. Cardless cash withdrawal! 

How cool it is when you do not even have to use your debit card and still withdraw cash. It’s like next generation of ATMs, but quite true you can enjoy this service now at many machines. A debit card holder can transfer funds to anyone who has access to an ATM for availing this transaction. In case of the receiver, they have to enter the codes in prescribed manner along with the amount and mobile number for withdrawing cash from ATM without any use of a debit card. 

9. Railway Tickets! 

Now, this is just even more extraordinary! But yes you have read it right, as banks like SBI, PNB and many more allow you to book your train tickets at an ATM using your debit card. At first, IRCTC website has already made booking of train ticket easier than before, and now you can even enjoy this facility at an ATM is just a dream come true. This eliminates the need for standing in line of a railway station and also helps when your internet pack is over. 

However, it needs to be noted that, this service is available in railway premises. 

10. Income Tax payment! 

This one feature is very rarely known to citizens, as not many banks offer this facility but some actually help you in making your income tax payments using ATMs. Hence, always check with your bank when opening an account about this service. Through an ATM, a person can pay advance tax, self-assessment tax as well as tax due after regular assessment. 

For this facility, you need to first be registered on your bank’s website or its any branch. Once you carry this procedure at ATM, you will receive a unique code which you can take it to your bank after 24 hours for printing the challan. 

11. E-verify your Income Tax Return (ITR)! 

On the Income Tax Department website, it is revealed that one can e-verify their Income Tax Return (ITR) filing even via ATM. At first, a customer will have to swipe their debit card in an ATM, then click on PIN for e-filing. An EVC will be sent on your registered mobile number. Then you can log in to e-filing portal and select option to e-verify return using bank ATM. Enter that EVC on e-filing portal, and it will be immediately verified. 

12. Cash depositing! 

A customer can make a small cash deposit using an ATM. Many banks do allow this service, and all you have to do is insert your debit card in the machine, follow the instructions for carrying a cash deposit. Generally, you will have to feed in currency details for following the procedure. Once done, the ATM will confirm your deposited cash immediately via a confirmation message on your registered mobile number. 

With this, ATM has definitely become a one-stop solution for you. Hence, why just carry a normal cash transaction, go ahead and explore your nearby ATM for above-mentioned facilities. Isn’t it that ATMs have made your life easier and better!