ATM to ATM Money Transfer Guide for Indian banks.
Some time ago I wanted to transfer money to my friend’s account through an ATM. To make sure everything goes smoothly, I decided to search the Internet for a tutorial. And, surprisingly, I haven’t found a guide that explains how to transfer money from one ATM to another.
Update: Since Prime Minister Modi demonetized £ 500 and £ 1000 to fight black money, Paytm’s mobile wallet usage has increased 1000%. We recommend that you also read our latest post on everything you need to know – Paytm Wallet and UPI after you finish reading this.
So I did some research myself. I started checking the banks’ official websites, sending them emails, asking questions on Twitter, and even personally calling several bank employees to make sure everything was clear.
And finally, I will share everything I know about ATM transfers in India.
But before we get started, there are a few things you should know:
1. There are many small and large banks in India. I managed to compile a list of only the most popular ones, if you find that your bank is gone, let me know.
2. There is no bank in India that supports ATM interbank transfers. For example, it is not possible to transfer money from an SBI account to an ICICI account through an ATM. However, you can do this using internet banking or at the nearest branch.
3. The limit and time for transferring funds vary from bank to bank.
ATM to ATM Money Transfer SBI
You can transfer money to any bank affiliated with SBI using your ATM card. For example, you can transfer from SBI to SBBJ, but you cannot transfer from SBI to ICICI using an ATM.
List of SBI Associated Banks
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
You can transfer up to Rs. 30,000 / – per day instantly via SBI ATM. All you need is your SBI debit card, your PIN, and the recipient’s debit card number. (For a transaction limit of Rs 15,000 / -)
How to transfer money from SBI ATM
Before you start, make sure you have one.
1. ATM number of the person you want to transfer money to
2. Your card and pin number
3. Money in your bank account (obviously)
Full Disclosure: The following screenshots were taken from the Internet. I don’t own them. And I know that cameras inside ATMs are prohibited. Click to see a large preview
Go to the ATM of any government bank. Insert your card and select “Transfer” Enter your ATM PIN-code Select a card-to-card transfer Enter your ATM card number. Act quickly or the system will shut down.
Then enter the amount, it can be any number less than 15 KB (must not be a multiple of 100) select the type of account (for example, checking or checking account) confirm.
ATM to ATM Fund Transfer ICICI
You can transfer money from an ICICI account to other ICICI accounts or to another bank account, but to do this, you must first register the beneficiary’s account with ICICI Bank . [link to source]
The following screenshot shows confirmation of what I said earlier.
The money is instantly credited from the ICICI bank to another ICICI bank, but for other banks this happens in the OIL clearing cycle. You can register another account for transferring funds in their Internet Bank.
This service is free; which allows you to transfer a maximum of 1 lakh per day from an ICICI account to another ICICI account. Not sure about ICICI’s other bank account though.
Transfer money from ATMs to PNB ATMs
This was the hardest thing to learn. Some reputable websites claim that PNB allows funds to be transferred to other banks. But this is not the case. They only allow transfers from one PNB account to another PNB account. Take a look at the following screenshot.
Transfer money from ATMs to HDFC ATMs
They do not allow ATM transfers. Here is a screenshot of the answer posted by HDFC care.
Denial of responsibility
As indicated, all data was taken from the official websites of banks, replies to the mail and tweets of a bank representative. Please do not blame if you find any information incomplete or misleading.
I do my best to keep the articles updated and you can also help me using the contact form. Did you know that HDFC and ICICI are technically not Indian banks. #FunFact