Your ATM’s no longer just a money machine

ATMs have widened their reach beyond just being a cash dispensation machine to offer a host of transactions. Preeti Kulkarni tells you how to get the maximum out of ATMs

    OF ALL bank transactions, less than 10% now take place through branches. Most account holders now use automated teller machines (ATMs) and the internet for accessing their accounts and withdrawing cash. 
    While ATM usage has soared, most customers are yet to make full use of their ATMs. From the time they were commonly referred to by their pseudonym 'Any Time Money' — an allusion to the freedom they provided from bank counter timings — today, these kiosks are not just cash dispensers. They have widened their reach to offer a host of transactions like utility bill payments, mobile recharge and so on, reducing the need to even get on the net. 
    This, coupled with RBI's directives aimed at safeguarding ATM users' interests, has resulted in the space being abuzz with action during the past few months. Here's what you need to know to make the most out of your ATM: 
BANKING SERVICES 
In addition to withdrawing cash, checking your account balance, changing your ATM PIN and monitoring the status of cheques issued, you can also file a request for a cheque book and your account statement. Depending on the bank and the ATM machine, you can also deposit cheques and cash. If you have several accounts linked to your ATM-cum-debit card, you can transfer funds between these accounts. 
BILL PAYMENT 
Upon registering with your bank for bill payment services, you can visit your bank's ATM to make the payment. The utility bills that can be paid through ATMs vary as per the bank. Typically, you can pay your electricity, telephone and mobile bills as well as insurance premium. Most bank ATMs facilitate pre-paid mobile recharge too. 
OTHER TRANSACTIONS 
Non-banking transactions facilitated at ATMs, again vary as per the bank and the machine's features. SBI, for instance, allows users to pay the fees of certain select colleges. Similarly, the bank's customers can also make donations to temple trusts like Vaishno Devi, Shirdi Saibaba, Tirupati, etc. ICICI Bank offers, among other things, the facility to support specific charities, buy certain mutual fund schemes, and also internet packs and calling cards at its ATMs. 
FREE ACCESS TO THIRD-PARTY ATMS 
This was the most significant change that boosted the popularity of ATMs in 2009. In April, accessing ATMs owned by any bank was declared free of charge, unlike earlier. In other words, even if you withdrew cash at the ATM of banks where you did not maintain an account, your account would not be debited for third-party ATM usage charges. From October 15, 2009, however, certain limits were imposed by banks. The number of 'free' transactions was restricted to five a month and each such transaction could not exceed Rs 10,000. If you exceed the cap of five transactions, your account would be debited with charges of up to Rs 20 per transaction. 
LIMITS AT OWNED ATMS 
Banks are allowed to decide on the ceiling for cash withdrawals per day at their own ATMs. The information is displayed at their ATM kiosks. 
RE-CREDIT OF ERRONEOUS DEBIT 
Yet another diktat from RBI pertaining to ATM transactions, this one came into force on July 17, 2009. Banks are required to reverse any wrongful debit made to an accountholder's account due to a failed ATM transaction within 12 working days from the receipt of such a complaint. If the bank fails to do so, the customers are entitled to receive a compensation of Rs 100 per day, which is to be credited to their account on the day of the re-credit, without them having to make a claim. 
ATM-RELATED COMPLAINTS 
The increase in use of third-party ATMs has given rise to confusion in customers' minds about the bank that is to be held responsible in case of an aborted transaction. Therefore, in December 2009, the central bank directed banks to put up notices at ATMs stating that complaints should be lodged at the branches where customers maintain account to which the ATM card is linked. They were also asked to display the telephone numbers of the ATMowning bank's help desk. You would do well to enquire if you can file complaints through your bank's phone banking service or the nearest branch, instead of visiting your branch. 
BRANCHING OUT Making bill PAYMENTS 
Register for bill pay services with your bank. Step You can provide information about multiple billers and the bills concerned. This can be done either online or by submitting the form at the banks' designated branches or customer care centres 
Visit your bank's ATM and select the bill Step payment option 
You will be prompted to choose the bill from Step the list you have registered with the bank 
Confirmation of the amount and the Step date on which the payment is to be made completes the transaction