Bank of India joins National Financial Switch

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Mumbai,Sep 17: Bank of India (BoI) has announced that it has joined the National Financial Switch (NFS), an ATM Network of various prominent banks in the country.

Customers also get the facility of SMS alert on all ATM financial transactions after registering their mobile number with the Bank. NFS was set up by the Institute for Development and Research in Banking Technology (IDRBT), on August 27, 2004. The NFS comprises a National Switch which facilitates bank ATM/ Card Transactions between different Indian banks which offer card and ATM facility, a release issued by BoI said here today.

Presently, 31 banks are part of the NFS and the number of ATMs connected by NFS network is 29,840.

The bank, a pioneer in the industry in inter bank ATM sharing arrangement is part of the CashTree network and BANCS network. The bank has a bilateral arrangement with the State Bank of India (SBI).

The bank is also affiliated with both VISA and MasterCard and issues international Debit Card which can be used on VISA and MasterCard ATMs worldwide.

With this initiative, BoI customers now have access to more than 32,000 ATMs of all prominent banks in India. This is also in line with Reserve Bank of India (RBI) directive to banks to ensure that customers have access to all ATMs irrespective of the bank which has set it up.


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