Shared ATMs for five PSBs

Our Banking Bureau
26 July 2003

Chennai: Customers of five public sector banks — Bank of India, Indian Bank, Union Bank of India, United Bank and Syndicate Bank — will have access to all the ATMs of all the five banks from today, as the 'shared ATM network' of the five banks, inter-linked by the switch provided by India Switch Company, was launched today.

"This is the first of its kind among the PSU banks which have taken a customer-centric initiative to share their IT resources," says D Krishnamurthy, general manager, Bank of India.

The banks have a common logo for this service: CashTree. This logo will be displayed in all member banks' ATMs additionally so that the customers can easily identify and do the transactions.

The network will provide about 500 ATMs to its clients now to start with. "More banks are likely to join the network in the next one month and will make available about 1,200 common ATMs for all their clients," adds Krishnamurthy.