A while ago, I wanted to transfer some funds to my friend’s account via ATM. To make sure everything goes smoothly, I decided to look online for some tutorial. And surprisingly, I find no guide that explains how to transfer money from one ATM to another.
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So I did some research myself. I started checking official bank websites, send them emails, asking questions on Twitter and even personally call a few bank officials to make sure that everything is crystal clear.
And finally, I will be sharing all that I know about ATM to ATM fund transfer in India.
But before we begin, here are a few things you should know –
1. There are many small and big banks in India. I was only able to make a list of most popular ones if you find your bank missing, please let me know.
2. There is no bank in India which supports inter-bank transfer through ATM. For example, it’s not possible to transfer money from SBI to ICICI account using an ATM. However, you can do this with internet banking or by visiting your nearest branch.
3. Fund transfer limit and time vary from bank to bank.
ATM to ATM Money Transfer SBI
You can transfer money within any SBI associated bank using your ATM card. For instance, you can transfer from SBI to SBBJ, but you can’t transfer from SBI to ICICI using ATM.
List of SBI associate 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 using SBI atm-atm money transfer. All you need is your SBI debit card, your pin, and the beneficiary’s debit card number. (Per transaction limit of Rs. 15,000/-)
How to transfer money from SBI ATM
Before you start, make sure you have.
1. Atm card no of the person whom you want to transfer money
2. Your card and pin no
3. Money in your bank account (obvious)
Full Disclosure: Following screenshots were taken from the web. I don’t own them. And I am aware cameras not allowed inside ATM.
Go to any state bank ATM. Insert your card and select ‘Transfer‘ > Enter your ATM PIN > Select card to card transfer >Enter the ATM card number. Be quick or the system will time out.
Next, Enter the amount, it can be any no under 15k (doesn’t have to be in multiples of 100) > Select the account type (like saving or current account) > confirm.
ATM to ATM Fund Transfer ICICI
You can transfer money from ICICI account to other accounts in ICICI or other bank account but for that, you will have to register payee account within ICICI bank first. [source link]
The following screenshot shows the confirmation of what I said before.
The money is credited instantaneously from ICICI bank to other ICICI Bank but for other banks, it’s done in NEFT clearing cycle. You can register another account for fund transfer with their internet banking.
This service is free; that lets you transfer the maximum 1 lakh/day from ICICI account to another ICICI account. Although not sure about ICICI account to other banks.
ATM to ATM Fund Transfer PNB
This was the most difficult to find out. Some high authority website claims that PNB lets you do the fund transfer to other banks. But this is not true. They only allow transfer from one PNB account to other PNB account. Take a look at the following screenshot.
ATM to ATM money transfer HDFC
They don’t allow the fund transfer option through ATM. Here is the screenshot of the reply posted by HDFC care.
As stated all the data is from banking official websites, reply to mail and tweets from the bank representative. Please don’t blame if you find any information incomplete or misleading.
I do my best to keep the articles update, and you can also help me using the contact form. BTW do you know, HDFC and ICICI are not technically Indian banks. #FunFact