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Wednesday, Aug 30, 2006

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Dhanalakshmi Bank joins CashTree ATM network

Our Bureau

Kochi , Aug. 29

Dhanalakshmi Bank has joined the CashTree network of shared ATMs, which will enable the bank's customers to access over 17,000 ATMs across the country. The latest addition comes after making available shared ATM networks such as Cashnet and the National Financial Switch to the bank's customers.

The shared CashTree network of ATMs became a reality when five public sector banks, Bank of India, Dena Bank, Syndicate Bank, Union Bank of India and United Bank of India, came together and decided to commence shared ATM services amongst themselves.

Though it started with PSU banks, the consortium has recently included three private banks in its group. With the addition of Dhanalakshmi Bank, the number of banks will increase to 12.

The other banks, which joined the shared network, are Indian Overseas Bank, Bank of Rajasthan Ltd, Bank of Maharashtra, Indian Bank, Karnataka Bank Ltd and YES Bank.

The transaction charge of Rs 10 is the lowest per transaction for ATMs in the country. The ongoing per transaction charge in other ATMs is around Rs 25, a press release from Dhanalakshmi Bank said.

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