InvestorQ : What kind of transactions should I reserve for ATMs?
Isha Tharwani made post

What kind of transactions should I reserve for ATMs?

Answer
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Sadaf Khan answered.
1 year ago


This is a very important question given that banks charge customers for over three ATM transactions.

Let’s first understand what are the most common transactions an individual conducts at ATMs:

- Cash withdrawal

- Depositing cash

- Making a balance enquiry

- Changing your debit card’s ATM pin

- Requesting a mini statement

- Booking/ investing in a Fixed Deposit via the ATM

Now, other than cash withdrawal and cash deposits, one can conduct most of the above tasks via the bank’s mobile application or website via net banking.

Thus, one should restrict the usage of ATMs only for cash withdrawal or cash depositing purposes.