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BOI reaches an accord with SBI to share ATM

Written by: Staff
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Mumbai, July 5: Bank of India, has entered into a bilateral agreement with SBI for both the banks to share each other's network of ATMs across the country.

Known as CashTree, the first such sharing arrangement has got 11 banks as its members and a total number of 2,500 ATMs, A BOI release issued here today said.

Apart from it, BOI also manages another network called BANCS, where other 13 banks are members and which has got a network of 4,500 ATMs, the release said.

The new arrangement will add another 5,500 ATMs of the SBI network for BOI clients. These different networks have got service charges, CashTree being offered free of cost to BOI customers. Under the new set-up, BOI customers will now have a choice of 12,500 ATMs to use and can select the ATM according to their convenience and at the charges offered by the networks - ranging between Rs 10 and Rs 22, the release added.

UNI

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