Federal Bank – Unlimited Free Access to all Indian ATM’s

-


Federal Bank – Unlimited Free Access to all Indian ATM’s

On the occasion of the 62nd Republic Day Celebrations, Kerala based Federal Bank unveiled a novel customer retention campaign  i.e  ‘NO TRANSACTION FEE ‘ will be levied for its customers  on transactions,  at  other bank ATMs  even beyond the cap of five transactions per month.

At present a debit card holder of a particular bank can do transactions at an ATM of a different bank up to five times a month. From the sixth transaction, most of the banks levy Rs20 per transaction.

With the introduction of the new facility, a Federal bank debit card holder can transact through any Banks ATM in the country, any number of times, without being levied any charges. This facility is extended to all debit card holders, irrespective of the type of account they hold,

QUOTE
Federal Bank introduces a new facility, wherein Federal bank's debit card holders can transact through any Bank’s ATM in the country, any number of times, without being levied any charges.
UNQUOTE

Yes, this will enable Federal Bank to shore up its CASA Balances but as a Safe ePayments motivator, I believe this step will increase cash transactions.

In majority of the Retail Outlets charge 2% of the Bill if a Credit Card/Debit Card is used to settle the Bill.

It would have been more attractive if Federal Bank waived this charge. As it is there is a waiver of the fuel surcharge.

Federal Bank on its website has a separate sub-section highlighting all its Paper Advertisements. The ATM Free Offer Advertisement will add luster to the section. Trust the same will be added soon.




Enhanced by Zemanta

Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the ...
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Un...
Read more

IIBF introduces Self-Paced E-learning courses (SPeL) for its two certificates

-
Image
          Indian Institute of Banking Finance (IIBF) has taken a quantum leap in disseminating knowledge to its members and non-members.           IIBF in April 2019, introduced the Self-Paced E-learning courses (SPeL) concept for banking enthusiasts to be familiar with banking concepts.           In the first stage, IIBF has launched   two certificate courses i.e 1. Digital Banking and 2. Ethics in Banking.           The objective of this self-paced e-learning mode are as follows: • Participants can make the best use of his or her time, in order to meet his or her learning objectives. • Participants can access the course   anywhere/anytime with an internet connection. • Participants need not travel to give their examinations. It saves time and money of the participants. ...
Read more