Use bank debit cards to withdraw cash from postal ATMs
8 years ago

Use bank debit cards to withdraw cash from postal ATMs

The Hindu  

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.

Cash Debit Cards Post Offices Bank Atms Postal Bank Postal Atms Bank Debit Cards  debit  cards  customers  postal  bank  atms  withdraw  post  offices  cash

History of this topic

Delay in issuance of new POSB ATM cards causing difficulties to pensioners
1 month ago

Delay in issuance of new POSB ATM cards causing difficulties to pensioners

The Hindu  

An undue delay in the supply of new ATM cards by India Post Post Office Savings Bank is causing difficulties to card users, particularly pensioners and senior citizens. ATM cards held by many postal pensioners across the city expired long ago, and the pensioners have been waiting since then for issuance of new cards. Admitting that there were delays in …

Cash withdrawal facility via debit cards at Point of Sale terminals: 10 rules explained
4 years, 10 months ago

Cash withdrawal facility via debit cards at Point of Sale terminals: 10 rules explained

Live Mint  

The Reserve Bank of India today restated the information on cash withdrawals from point of sale terminals. In the form of frequently asked questions, the central bank explained the cash withdrawal facility at PoS terminals in ten points. Here is all you need to know about the cash withdrawal facility at Point of Sale terminals: 1) Cash can also be …

Get cash at home: In Kerala, this new facility from April 8
4 years, 11 months ago

Get cash at home: In Kerala, this new facility from April 8

Live Mint  

Thiruvananthapuram: People in need of cash during the lockdown due to COVID-19 need no longer go to banks or ATMs in Kerala as the state government has tied up with the postal department to deliver cash at their doorsteps. State Finance Minister Dr TM Thomas Issac on Monday launched the scheme by which the postman of a particular area would …

Postal services continue, says official
4 years, 11 months ago

Postal services continue, says official

The Hindu  

The Department of Posts has made special arrangements for booking and delivery of important mails and bulk despatch of medicines within the State to provide service to the needy public and relief to patients suffering from critical ailments. In a statement on Wednesday, Chief Postmaster General, Andhra Pradesh Circle, Ram Bharosa, said since postal services were categorized as essential services, …

Debit card holders can withdraw from any ATM free of charges for next 3 months
5 years ago

Debit card holders can withdraw from any ATM free of charges for next 3 months

Live Mint  

Finance Minister Nirmala Sitharaman today said that debit card holders who withdraw cash from any bank's ATM can do it free of charge for the next three months to promote digital financial transactions at the time of coronavirus pandemic. ".so you may have a debit card from a bank, a particular bank, but you will now be allowed, without additional …

Post Office ATM card daily withdrawal limit, transactions charges, other details
5 years, 4 months ago

Post Office ATM card daily withdrawal limit, transactions charges, other details

Live Mint  

India Post or Department of Post, popularly known as Post Office, offers several saving schemes, such as savings account, Recurring Deposit Account, Public Provident Fund, Kisan Vikas Patra, Monthly Income Scheme Account, Sukanya Samriddhi Yojana, fixed deposit account and senior citizen savings scheme with different interest rates. India Post pays interest at the rate of 4% per annum on deposit …

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV
5 years, 6 months ago

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV

India TV News  

Amid a massive rise in the fraud cases happening through bank ATM cards or debit cards like cloning and skimming, India's one of the largest public sector bank Bank of India has issued an advisory for its customer. The bank in its statement has warned its customer of banking fraud and has asked them to stop using a debit card …

Core banking solutions introduced at Sri City post office
6 years, 4 months ago

Core banking solutions introduced at Sri City post office

Deccan Chronicle  

Nellore: In a significant boost to postal financial services, Mr K. Bala Subramanian, IPoS, Chief Post Master General, Andhra Pradesh announced that Core Banking Solutions would be available at Sri City post office with immediate effect. In a formal ceremony held on Wednesday, the CPMG said that as part of modernisation of postal services, online postal banking service was being …

ATMs run dry: With cash withdrawals at pre-demonetisation levels, is Modi's digitisation drive facing hurdle?
7 years, 11 months ago

ATMs run dry: With cash withdrawals at pre-demonetisation levels, is Modi's digitisation drive facing hurdle?

Firstpost  

Supply of cash from banks to ATMs has currently dropped to Rs 6 lakh from Rs 12 lakh per booth on an average before the note ban days. Data from National Payments Corporation of India shows that bank ATM withdrawals exceeded Rs 1 lakh crore last month, almost the same level seen in October 2016 but double the amount in …

Rs 50 minimum balance, no transaction fees: Can India Post be the answer to banks’ greed?
8 years ago

Rs 50 minimum balance, no transaction fees: Can India Post be the answer to banks’ greed?

Firstpost  

The prevailing situation in the sector offers a major opportunity for the postal department. Postal savings accounts offer a rate of interest of 4 percent on such savings, promises no yearly charges/ no hidden fees and has a massive branch network of about 1.5 lakh, the department has much bigger network than even the State Bank group combined. Postal savings …

Post office launches ATM at Hanamkonda
9 years, 2 months ago

Post office launches ATM at Hanamkonda

The Hindu  

The Postal Department launched its ATM facility here at Hanamkonda Post office on Thursday. The department was working on installation of ATMs and micro ATMs at over 1.25 lakh post offices across the country. The postal department made all the savings bank facilities online across the country even at the sub post offices as well to ensure that account holders …

Centre to register postal bank by year end
9 years, 5 months ago

Centre to register postal bank by year end

The Hindu  

The Centre is likely to register the postal bank by the end of the year while a pilot for payment services will be launched around January 2017. According to sources, as per the timeline for setting up postal bank, approval from NITI Aayog will be secured by mid-October followed by public investment board’s nod by October-end and Cabinet approval in …

Modi's gift for 2015: With ATMs and all, 'Post Bank' is readying itself to serve the poor
10 years, 2 months ago

Modi's gift for 2015: With ATMs and all, 'Post Bank' is readying itself to serve the poor

Firstpost  

The entry of post to the scene can change the game in banking. The point to be noted here is with the permission to operate accounts through ATMs and issue account statements instead of a post office passbook, India post has already almost become a bank, albeit, in small scale, and if one exclude the credit operations business. But the …

Discover Related