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Wednesday, November 29, 2017

ATM Card Holders Know About This Rules and Save Your Money.

ATM Card Holders Know About This Rules and Save Your Money.

When you visit State Bank of India (SBI) branch next time, you may not need to fill up any forms, count denominations and stand in a queue.

Just carry your ATM/Debit card to transact a host of routine businesses, thanks to ‘green channel counters' and ‘no queue banking' introduced by the bank in over 5,000 branches across the country.

The operation is simple. You just walk into a branch and handle a transaction processing device (TPD) which is similar to point of sales (PoS) machine.

“The machines are being kept in exclusive green channel counters within the branch. A customer has to swipe his ATM/debit card and chose his transaction such as cash deposit, withdrawal and funds transfer from the menu,'' Ms Hannah Rachael Mani, a senior SBI official (Alternative Channels), told Business Line. A TPD is different from an ATM counter as at present there is no facility for cash deposits and funds transfers in ATMs.

Further, as a person is attached to every TPD, one can withdraw money in the desired denominations.

The queue could be avoided as there will be more than one green channel counter in every branch.

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