Transactions that can be done at ATMs

While you can use an ATM card only to withdraw cash from an Automated Teller Machine (ATM), a debit card can perform a range of other functions as well. Here’s how you can use your debit card to perform various transactions at an ATM:

• Cash withdrawal: This is one of the most basic functions of a debit card. It can also act as an ATM card and hence, it is known as an ATM-cum-debit card. You can use your debit card just like an ATM card to withdraw cash from ATMs. You will need to enter your 4-digit Personal Identification Number (PIN) for the same.
• Request for a new cheque book: You can use your debit card to place a request for a new cheque book at any of your bank’s ATMs. You can insert your debit card, enter your PIN, and select the option to request a new cheque book. However, one thing that you need to remember is that your current address should be updated with the bank.
• Utility bill payments: You can also use your debit card to pay utility bills at ATMs. These may include electricity bills, water bills, telephone bills, credit card bill payments , and insurance premiums, among others. It must be kept in mind that you will be able to make these payments at ATMs only if your pending bills have not crossed the due date.
• Tax payments: Some bank allows you to make tax payments at their ATMs through debit cards. However, this facility is currently available only for direct taxes, such as property tax, real estate tax, income tax, etc.
• Mobile recharge: You can also use your debit card at ATMs to recharge your mobile. All you need to do is just swipe your debit card, enter your 4-digit PIN, and mobile number, and you’re done. The recharge amount would be deducted directly from your bank account.

Debit Card Safety Tips

Debit cards offer a lot of conveniences. You can use these to withdraw cash from ATMs, pay utility bills, do shopping, and do online transactions. However, you also need to understand that any unauthorized access or breach of your debit card information can cause significant financial harm. That is why it’s mandatory to enter your PIN or OTP or both for completing debit card transactions.

Despite the two-way authentication by banks, there have been several instances of debit card fraud due to the negligence of users. Listed below are some safety tips for debit card users:

• Never share your debit card number, PIN, or CVV with anyone
• Do not write your debit card PIN anywhere on the card. Try to memorize your PIN
• Keep changing your debit card PIN at frequent intervals
• While making a transaction at the ATM, ensure that there’s no one else in the room except you
• Always hide the PIN while you’re entering it for PoS transactions
• Register for SMS alerts for any amount above zero
• Never leave an ATM until your transaction is complete
• Keep your cash and debit card safely in your purse or bag before leaving an ATM
• Look for a skimming device being installed in an ATM before using it
• Never share your OTP with anyone while conducting online transactions
• In case of any problem while transacting at an ATM, call the security guard. Never ask for help from any stranger
• Check the safety credentials of a website before using your debit card for an online transaction
• In case you lose your debit card, call your bank’s customer helpline number immediately to block your debit card

Cashback system on debit cards – How does it work?

You can also avail of debit card cashback and reward points by using your debit card for various financial transactions. You can use these cashback and reward points for future purchases through your debit card. However, not all debit cards are eligible for cashback. It mainly depends upon the type of debit card you’ve applied for.

For example, with the Axis Bank E-Debit card, you will get 1% cashback on all online transactions and with Axis Bank Value Plus Debit Card, you will get 5% cashback on your grocery spending every month. You can also get a host of attractive discounts with our debit cards on transacting with various merchants, including BookMyShow, TataCliq, Swiggy, Medlife, and more.

When you make a payment to these merchants using the appropriate debit card, you earn a certain percentage of your transaction amount as cashback. This cashback is added to your debit card account in the form of reward points or cashback points. Sometimes, these are added as cash balance to your savings bank account.

One gets debit card rewards or cash backs due to tie-ups between banks and merchants. Every time you make a payment to a merchant with which your bank has a tie-up, it pays a certain percentage of its profit back to the bank and the bank passes a part of this profit to their customers in the form of debit card cashback and reward points.