Transactions have also become easier through ATM. If you want to buy anything, it can be done easily through ATM. Many types of facilities are also available through ATM. But due to lack of information, people are not able to take advantage of it. Similarly, insurance is also available through ATM without paying any premium. Banks give very little information about this.

Actually, as soon as the ATM card is issued by the bank, the cardholders get accidental insurance and insurance against untimely death. Most people in the country are unaware of this fact that they also get life insurance cover on debit/ATM cards. According to the website of State Bank of India, Personal Accidental Insurance (Death) Non Air Insurance is provided to the debit card holder as insurance against untimely death.

Free insurance amount on ATM card

If you have used the ATM card of any bank for more than 45 days, then you can avail the benefit of free insurance facility. This includes both accident insurance and life insurance. Now you can claim insurance in both these situations. The amount has been fixed according to the category of the card. SBI gives a cover of 4 lakhs (death on air), 2 lakhs (non-air) to its Gold ATM card holders.

Whereas, it gives a cover of 10 lakhs (death on air), 5 lakhs (non-air) to the Premium card holders. All banks including HDFC Bank, ICICI, Kotak Mahindra Bank provide cover of different amounts on their debit cards. Some debit cards provide free accidental insurance coverage up to Rs 3 crore. This insurance coverage is given for free. No additional documents are asked for by the bank in this.

Debit card transactions are a must

The benefit of insurance is available only when some transactions are done through that debit card within a certain period. This period may vary for different cards. To activate the insurance policy on some ATM cards, the card holder is required to do a transaction at least once in 30 days. On the other hand, some cardholders have to do a transaction once within the last 90 days to activate the insurance coverage.

Nominee gets the claim amount

Customers also get insurance coverage of up to Rs 1 to 2 lakh on RuPay cards issued on accounts opened under the Pradhan Mantri Jan Dhan Yojana. If a debit card holder dies in an accident, his nominee can go to the concerned bank and claim the insurance.

Know how to claim

If an ATM card holder dies in an accident. In such a situation, the nominee of the card holder has to go to the branch of the bank where the account was opened. There, an application has to be submitted for compensation. Along with this, the necessary documents have to be submitted in the bank. After a few days, the nominee gets the insurance claim.

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The Employees Provident Fund Organization (EPFO) takes full care of the facilities of PF customers. A special service related to this can be started, which will benefit crores of PF customers of the country. Now PF customers will be able to claim PF through Unified Payments Interface (UPI).

The new system of EPFO ​​will allow fund transfer to the linked UPI ID of PF customers. According to reports, EPFO ​​has already prepared a blueprint for UPI integration and is expected to implement this facility within the next 2 to 3 months.

According to reports, EPFO ​​is in discussion with the National Payments Corporation of India (NPCI) to integrate PF withdrawal with the UPI platform. With this, PF customers can get their PF amount instantly from digital payment apps like PhonePe, GooglePay, Paytm and Bhim App.

You will be able to withdraw your PF through ATM card

Apart from UPI transactions, EPFO ​​is also working on enabling PF withdrawal from ATMs.

Who gave the information

In an interview with news agency ANI, Labor Secretary Sumita Dawra has revealed information related to this. Sumita Dawra said that EPFO ​​subscribers will be able to withdraw their PF through ATM by 2025. Along with this, she said that the Ministry of Labor is in the process of upgrading the entire IT services. This will help employees across India registered with EPFO.

According to a report, this system will be implemented across India in May or June next year. It is being said that the central government can remove the limit of 12% on employee contribution to PF. Employees can be given the option to contribute according to their savings and employees will be allowed to deposit an amount above the limit at any time.

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PF money will be withdrawn from ATM

Recently there were reports that EPFO ​​will soon issue an ATM card , which will allow people to withdraw money from their EPF account anytime. If this change is implemented, the process of withdrawing money from PF will become even easier and faster, giving you 24×7 access to your deposited capital.

The contribution limit in EPFO ​​will increase

Currently, contribution to EPF is made only on basic salary up to ₹15,000 but the government is now planning to allow contribution to EPF on the basis of the entire salary. This means that if an employee’s basic salary is ₹1 lakh, then he will now be able to deposit ₹24,000 (employee and employer combined) in EPF every month. This will help in saving more money for the future.

Equity investment limit will also increase

EPFO invests the money deposited in your EPF account in various investment schemes so that it earns interest and the money grows. One way is to invest in Exchange Traded Funds (ETFs). EPFO ​​is working on the idea of ​​reinvesting the profit from ETFs in shares and other investment options so that more interest can be earned on EPF.

Facility for pension can be availed from any bank branch

In September 2024, the Central Government approved the Centralized Pension Payment System (CPPS). After this, about 78 lakh EPF pensioners will get the facility that they will be able to withdraw their pension from any bank branch and not from any particular bank branch. This will give more flexibility to the pensioners and they will be able to get their pension from any part of the country.

Last date for application for higher pension

EPFO has also announced that all companies should upload the salary details of their employees on the EPFO ​​portal by 31 January 2025. Apart from this, if EPFO ​​has asked for any other information, then it has to be made available by 15 January 2025. This step is for those employees who have applied for higher pension so that their application can be processed as soon as possible.

These changes are aimed at making the EPF system more convenient, transparent and beneficial. These steps will help you grow your EPF account and prove to be helpful in strengthening your financial position in the future.

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Indian banks generally provide their customers the facility to do only a limited number of ATM transactions every month. Banks charge a fee for withdrawing money from ATM after the limit set by the banks. Banks also provide the facility of unlimited ATM transactions, but for this the customers have to fulfill certain conditions.

India’s largest bank i.e. State Bank of India also charges these charges (SBI ATM Transaction Charges). SBI charges also depend on the nature of the transaction and the type of city. That means the charges for metro and normal cities are different. Apart from this, the SBI ATM card holder may have to pay more money for withdrawing money from any other bank’s ATM using SBI ATM card.

It is important for every bank customer to know about ATM card charges. With this, the customer not only avoids unnecessary charges but also does not have to argue unnecessarily with the bank employees after knowing about the charges. Today we will tell you in detail about SBI ATM charges.

SBI ATM Free Transactions

The country’s largest bank provides unlimited free ATM transactions to its customers at its own ATMs as well as at the ATMs of other banks, subject to certain conditions. Customers maintaining an average monthly balance of more than Rs 25,000 in SBI Savings Bank account can do unlimited ATM transactions within the bank’s ATM network. Whereas, to avail this facility in ATMs of other banks, SBI customer will have to maintain a balance of Rs 1 lakh.

Customers maintaining monthly balance up to Rs 1 lakh in SBI account can do 3 free of cost transactions from ATMs of other banks in six metro cities of the country i.e. Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad. At the same time, six transactions can be done for free in other cities.

If an SBI bank account holder maintains a monthly balance of Rs 25,000 in his account, then he will get five free transactions in a month at SBI ATM. Those who keep more than Rs 25,000 in their account get the facility of unlimited transactions. If an SBI account holder wants to do unlimited ATM transactions in other banks also, then he will have to maintain a monthly average balance of Rs 1 lakh.

Charges will have to be paid after the free limit is exhausted.

If a customer makes a transaction from the ATM after the limit set by SBI, then he will have to pay charges. If you use ATM of any bank other than SBI, you will have to pay Rs 20 per financial transaction. GST will also be applicable on this. Similarly, for withdrawing money from SBI ATM or doing any other transaction, you will have to pay Rs 10 and GST on it.

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If you want to withdraw money from an ATM machine, a debit card is required. But in today’s digital and technology era, you can withdraw money from ATM machine even without a debit card. For this you should only have your mobile. For this you do not need an ATM card. This banking service has been running for many days.

Although many banks were already providing the facility to their customers to withdraw money without card, but now the Reserve Bank has further expanded its scope. UPI i.e. Unified Payment Interface will be used for this facility. RBI has allowed banks to provide the facility of withdrawing money without using the card. Today we will talk in detail about withdrawing money from ATM without card.

To withdraw money from ATM without debit card, you must have a smartphone. Your smartphone should have any UPI enabled app like BHIM, Paytm, GPay, PhonePe etc. You will be able to withdraw money through these apps only.

Follow these steps

To withdraw money, first go to the ATM and choose the option to withdraw money without card. You will see the option to provide identification through UPI. After this, open the UPI app in your mobile and scan the QR code visible in front. You will be authenticated through UPI and after that you will be able to withdraw money. The further process will be the same as before. Enter the amount of money you want and withdraw your money.

Which technology will be used?

The Reserve Bank will soon issue separate instructions to NPCI, ATM network and banks to provide the facility of withdrawing money from ATM without debit card. Unified Payment Interface i.e. UPI will be used for this facility. Customers will be identified through UPI and such transactions will be settled through the ATM network. Let us tell you that this step will also provide a lot of relief to banks.

Benefits of withdrawing money without card

Reserve Bank Governor Shakti anta Das has said that the facility of withdrawing money from ATM without card is very beneficial. He had said that the facility of cash withdrawal without card will help in preventing frauds like card skimming, card cloning. Apart from this, you will not need to keep the card with you. Your smartphone will do all this work.

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Speaking on the occasion, Rajneesh Karnataka, Managing Director and CEO, Bank of India, said that the Bank is ready to expand its savings customer base with these newly upgraded savings accounts. It has been equipped with many great features. In such a situation, it becomes important for you to know what benefits you will get after these latest changes.

Now these benefits will be available in the savings accounts of Bank of India

After upgraded savings accounts of Bank of India, customers will be given accidental death insurance cover of up to Rs 1 crore 50 lakh. Apart from this, customers will also be able to get air accident insurance up to Rs 1 crore on savings accounts only. Platinum Savings Account holders will get the benefit of free locker facility.

Apart from this, International Debit cum ATM card will also be given. You will get the benefit of facilities like concessional interest rate on retail loan, discount on processing fees and limit of up to Rs 5 lakh on POS.

Bank of India also changed the interest rate of FD

Apart from this, Bank of India has also changed the interest rate of Fixed Deposit (FD). Now Bank of India is offering interest rates between 3% to 7.25% to common citizens on FDs maturing in seven days to ten years. According to the website of Bank of India, these rates are effective from October 1, 2023.

According to the information received from the Bank of India website, senior citizens will be offered 25 Bps extra interest in addition to 50 Bps for a tenure of 3 years or more on their FD of less than Rs 2 crore.

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Unknowingly how many works are done from home. On the other hand, now you do not even have to go to the bank to withdraw money, because after the advent of ATMs, you can withdraw money from your bank account whenever you want.

Just for this you need an ATM card, but do you know that if you withdraw money from someone’s ATM card, then you can be jailed? Probably not, in which case it becomes important for you to know the rules first. So let’s know about this. You can learn about it in the next slides…

• Actually, what happens is that when a person dies, his family members withdraw money from his ATM. But here it becomes necessary to know that it is illegal to do so. Even if the nominee withdraws money from the bank account of the deceased person without informing the bank, it is also wrong. There is a provision of punishment if caught in this.

• If you withdraw money from the bank account of a deceased person, then you have to follow the rules of the bank. Under this, only after the death of the person, after transferring all his property in his name, his money can be withdrawn. You have to inform the bank about this.

• On the other hand, if the nominee is one then he/she can withdraw money from the deceased person’s bank account, but if there is more than one nominee, you have to show the consent letter to the bank and only after that you can withdraw money from the deceased person’s bank account.

• If you are the nominee of the deceased person’s bank account, then you have to fill a form. Along with this filled form, you have to provide the passbook of the deceased, TDR of the account, death certificate and your Aadhaar card and PAN card. After the completion of this process, you can withdraw the money.

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Many customers of the bank are not aware of this facility. If you are also one of them, then today we will tell you how the benefit of up to 5 lakhs can be taken?

What is this facility of the bank?

ATM cards are issued to the customers by all the banks of the country. How can you take advantage of up to Rs 5 lakh in this situation? Let us tell you that on behalf of every bank, the facility of insurance is given to the customers using ATMs.

Get free insurance

Customers using ATM card get many free services from the bank. Insurance is one of the main facilities. As soon as the ATM card is issued to a customer by the bank, along with that the Accidental Insurance of that customer also starts. Many people do not know about this insurance.

5 Lakh Insurance on Platinum Card

The bank provides different categories of insurance to the cardholders. The card categories are Classic, Platinum and Ordinary. Insurance of Rs 50,000 is also available on normal MasterCard, Rs 1 lakh on Classic ATM card, Rs 1.5 to 2 lakh on Visa card and Rs 5 lakh on Platinum card.

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And anyway, when you need cash in an emergency situation, you cannot say. In such a situation, you will find an ATM, but what if you forgot to bring the ATM card itself? You might have heard the name of cardless cash withdrawal. If you have been withdrawing cash from ICICI Bank and HDFC Bank ATMs, then you must have seen this option on the screen of the ATM. You have the option that you can withdraw cash even without a card.

In May this year, the Central Reserve Bank had directed banks, ATM networks, white label ATM operators across the country to provide the facility of ICCW or Interoperable Card-less Cash Withdrawal at ATMs, so that with the help of this facility, they can withdraw from any ATM. You can go and withdraw cash without debit or credit card. Apart from this, RBI had also asked National Payments Corporation of India to make available cardless cash withdrawal facility with the help of UPI at ATMs.

If you are a customer of ICICI Bank, then know what are the features of this facility provided by your bank and how you can withdraw cash without card. According to ICICI Bank’s site, for this, you need to login to the iMobile app and initiate cardless cash withdrawal transaction. You can withdraw up to Rs 15,000 without a card from this bank’s ATMs across the country.

What is the cardless cash withdrawal process? (Cardless Cash Withdrawal at ICICI Bank ATM Process)
This process is quite easy. Let’s see how-

step 1-

– Open the iMobile app on your smartphone. If it is not there then download it from playstore.
– Go to Services and click on Cardless Cash withdrawal option.
– Enter the amount of cash to be withdrawn and a temporary PIN of 4 digit and select the account number from which the money is to be withdrawn.
Confirm the details shown on the screen and click on submit.
You will see a successful message when the transaction is completed.

Step 2-

You will get a 6 digit code on your registered mobile number from the bank, which will be valid for the next 6 hours. Within these 6 hours you have to withdraw cash from ATM.

Step 3-

Go to the ICICI Bank ATM and enter the requested details – Registered Mobile Number, Temporary PIN Number which you set. Digit with 6 code and how much money to withdraw.
On entering the correct details, the ATM will dispense your money.
– You have to withdraw the entire amount in one go, keep this in mind.

If you want to locate ICICI Bank, you can send SMS “ATMCC PINCODE” to the number 9222208888 for this.

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