Can I use ATM to transfer money to another account?

Using ATMs for Convenient Account-to-Account Transfers

Automated Teller Machines (ATMs) have become ubiquitous in today’s banking landscape. They offer a wide range of services, including cash withdrawals, deposits, and balance inquiries. Many ATMs also provide the convenience of transferring funds between your own accounts.

How to Transfer Money via ATM

1. Insert your ATM card: Insert your ATM card into the designated slot and enter your PIN.
2. Select “Transfer Funds”: Navigate to the “Transfer Funds” option on the ATM screen.
3. Choose the source and destination accounts: Select the account you wish to transfer funds from and the account you wish to transfer funds to.
4. Enter the transfer amount: Input the amount of money you wish to transfer.
5. Confirm the transaction: Review the transfer details carefully and confirm the transaction.

Limitations of ATM Transfers

• Domestic transfers only: ATM transfers are typically limited to domestic transfers within the same bank network.
• Transfer limits: Banks may impose daily or monthly transfer limits for ATM transactions.

Alternative Options for International Transfers

If you need to transfer funds internationally, consider using services like WorldRemit. These services offer:

• Competitive exchange rates: WorldRemit provides competitive exchange rates that can save you money on international transfers.
• Fast and secure: WorldRemit’s platform is fast and secure, making it easy to send money abroad.
• Wide reach: WorldRemit supports money transfers to over 130 countries worldwide.

Conclusion

ATMs offer a convenient way to transfer funds between your own accounts within the same bank network. However, for international money transfers, services like WorldRemit provide more competitive rates, faster transaction times, and a wider geographical reach. By choosing the right service, you can ensure that your money transfers are safe, quick, and cost-effective.