I have known this was existing for accounts in the same branch but was not aware of this option to any other account in any bank. This would be a good option for emergencies and sudden transfers when we are on the move and in smaller places or rural area where in the banks cannot have staffed branches providing all services everywhere. This transfer facility between your account to any other bank account in an ATM doesn't need the presence of a staff, forms to be filled, cheque leaf to be filled or standing in a queue to be served. It's like withdrawing cash, enter the numbers, very the accuracy and press a button. It would be good for families to do a quick transfer when one of them is in an emergency, son/daughter studying far off and needs money, paying friends etc. If the transaction charges are high it defeats the purpose, I think once its secure, the banks should reduce the charges and then make it widely used.