Coimbatore: The first ATM in the western region by the department of posts in the service of the public was inaugurated at the Coimbatore head post office.
The department of posts plans to set up 126 ATMs at important post offices all over India in the first phase, of which 15 ATM locations are being planned in Tamil Nadu postal circle. In the western region, head offices in Coimbatore, Erode and Bhavani have been identified for setting up ATMs.
Core banking solution (CBS) FINACLE is networking all the post offices which enables customers to operate their accounts and avail account related services from any post office on the CBS network regardless of where the person maintains their account. This project will bring in facilities of ATM banking, internet banking, mobile banking and phone banking to the post office savings bank customers. To start with, the service will be available for six working days (Monday to Saturday) from 6 am to 8 pm.
A few features of India Post ATM are - the department of posts will issue ATM cards free of cost, instant ATM cards will be issued, the services will be available only for post office account holders, customers bearing savings account at the respective head offices and having minimum balance of Rs 5,000 can apply for ATM card, customers can withdraw maximum of Rs 25,000 per day and Rs 10, 000 per transaction.
