HDFC, Kotak sign MoU for ATM sharing

Chandigarh, Apr 12 (UNI) HDFC Bank and Kotak Mahindra Bank today signed a Memorandum of Understanding to share their ATM networks, giving the customers of the two banks access to over 1400 ATMs across the country.

The agreement was signed by HDFC Bank Managing Director Aditya Puri and Kotak Mahindra Bank Managing Director Uday Kotak, a Kotak Mahindra spokesman here said.

While HDFC Bank has 1335 ATMs across 228 locations in the country, Kotak Mahindra Bank has 75 ATMs at 41 locations, accessible 24 hours a day, 365 days a year.

The charges for HDFC Bank customer for using the partner's ATMs are Rs 18 for cash withdrawal and Rs seven for query-based transactiosn such as balance enquiry.

Kotak Mahindra Bank is offering access to HDFC Bank ATM network free of cost to most of its customers. Also , Kotak Mahindra Bank's existing ATM network tie-up UTI Bank has come to an end.

UNI PS MP BST1819