The key to reduce ATMs operating costs is to attract a large number of footfalls to transact through the ATMs.
Revenue can be maximised through Financial transactions and Non-Financial transactions. Non-financial transactions can said to be the butter whereas Financial transactions can said to be bread.
A perfect combination of Bread and Butter transactions would minimise ATM operating costs. At the same time, it would encourage the Banks to install a large number of ATMs around the country.
Reserve Bank of India, through Notification No: RBI/2015-16/139-DCBR.CO.LS (PCB) Cir.No.2/07.01.000/2015-16 dt.July 30, 2015 permitted all Primary (Urban) Co-operative Banks (UCBs) to offer all services that Standard ATMs can offer.
These services can offered @ on-site / off-site / mobile ATMs as per Annex.
At the same time, the UCBs have to ensure that there are enough technological safeguards in place for ensuring data security.
Of course, the products of other financial institutions should not be marketed through ATMs.
The following is the list of Approved Services / facilities on ATMs installed by UCBs
- Personal Identification Number (PIN) changes;
- Requisition for cheque books;
- Statement of accounts;
- Balance enquiry;
- Inter account transfer within the bank between accounts of same customer or different customers of the bank at the same centre or different centres within the country;
- Inter Bank Funds Transfer - Transfer of Funds between the bank's customers and customers of other banks;
- Mail facility for sending written communication to the bank;
- Utility payments like Electricity bill, Telephone bill, etc;
- Issue of railway tickets and
- Product Information