Use bank debit cards to withdraw cash from postal A

CHENNAI MARCH 07, 2017  

Efforts on to instal such equipment in more locations

ATMs out of cash? No problem, postal ATMs to the rescue for customers can now use their bank debit cards to withdraw cash at postal ATMs.

With the Postal Department’s proposal for interoperability of its ATMs with banks approved by the Reserve Bank of India, customers may withdraw cash from their postal accounts through bank ATMs too.

Post offices are now gearing up to load cash at regular intervals as the number of customers using postal ATMs is expected to increase steadily. Officials said though measures were taken to allow customers to withdraw cash by bank debit cards, it had to be delayed due to the demonetisation move.

At present, there are nearly 97 postal ATMs across the State, mostly in head post offices. Of this, about 10 ATMs are in city post offices, including the sub-post office in Ashok Nagar. “We are now taking measures to install ATMs in more post offices depending upon the patronage,” said an official.

Post offices in Chennai city region have nearly 2.5 crore savings accounts and savings bank accounts contribute to 25%. “We have issued nearly 53,000 postal debit cards in Chennai city region. This could now be used in bank ATMs as well,” the official added. Steps are being taken to expedite the process to issue debit cards to other postal account holders as well.

Internet, mobile banking

As part of its efforts to upgrade to postal bank, the Postal Department is set to launch internet and mobile banking services soon on par with the commercial banks. In about three months, customers could soon be able to pay bills, open a savings account or transfer money from post offices to banks too.

In yet another move to expand its services, the Department of Posts has tied up with Finland Post to exchange international speed posts articles recently. This would be the 100th country to which the department has extended its mail services.

Source : The Hindu.