Indian Bank to waive charges on its ATM cards

Started by sajiv, Dec 18, 2008, 01:25 AM

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Indian Bank to waive charges on its ATM cards used in other kiosks

KANCHEEPURAM: Indian Bank will waive the charges collected from its customers for using its ATM cards in other bank ATMs (automatic teller machines) from April 1, 2009, according to the Executive Director, Indian Bank, A.Subramanian.

Talking to reporters here on Tuesday, Mr.Subramanian said that hitherto other banks levy Rs.18 per transaction as charges for allowing Indian Bank customers to use their ATM cards in their respective ATMs.

However, the bank collects Rs.10 per transaction from its customers and remits the entire amount of Rs.18 to the respective banks by contributing the remaining Rs.8 as its share. As on date, 28 lakh ATM cards have been issued to the customers and they could access their account through 670 ATMs installed by the Indian Bank and as well as through 27500 ATMs set up by other banks. On an average 400 swipes were recorded per day in each ATMs installed by the bank.

Earlier, addressing a customer meet organised by the Kancheepuram Circle, Mr.Subramanian urged senior citizens to use the ATM facility instead of drawing their pension through the conventional method.