The Hindu Business Line : 12 banks share ATMs

The banks in the group at the moment sweep across categories are Bank of Maharashtra, Bank of Bahrain & Kuwait, Greater Bombay Co-op Bank, Centurion Bank, Central Bank of India, UTI Bank, Punjab & Sind Bank, IDBI Bank, Ratnakar Bank, SBI Commercial & International Bank, Cosmos Bank, Air Corporation Employees Co-op Bank, Saraswat Co-op Bank.

Another 8 banks are to join the hold taking the total ATM network to 2,800 machines.

What the customer of Bank X will have to pay to use the ATM of Bank Y, (assuming that both banks are part of BANCS) is yet to be decided. The charge Bank X will have to pay Bank Y for the same is fixed at Rs 25 per each cash withdrawal. Whether this cost is passed on to the customer or not will be decided by each individual member bank.

The consortium called `BANCS' has been processing close to 1,00,000 transactions per month during its pilot operations that commenced in January 2004, said Mr Mani Mamallan, Chief Operating Officer, India Switch Company (P) Ltd at a press conference held here on Thursday.

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