SIB Joined NFS ATM NetworkMore ATMs. More Coverage.
In our continued efforts to provide better and efficient services to our customers, the South Indian Bank Ltd has joined the National Financial Switch (NFS) Network System of the IDRBT, Hyderabad on 4th May 2005. The Institute for Development and Research in Banking Technology (IDRBT), the technical arm of the Reserve Bank of India (RBI), is promoting the NFS ATM sharing project for the benefit of the member banks to expand the individual ATM operations across the country. The NFS Network, owned and maintained by IDRBT, aims at linking all the ATMs in the country for providing efficient and cheaper ATM operations.
NFS Member Banks: There are 51 banks as members of this NFS Network. This nation-wide ATM network has strength of 63,822 ATMs as on 31.10.2010. SIB had joined this network as the tenth bank. It is a matter of pride for us that our Bank is the first Kerala based bank to have a DIRECT membership in the NFS Network.
Benefits To Customers: By joining the NFS ATM Network System, SIB is in a better position to serve its customers through more number of ATMs in the country, with a nominal charge. More over, the customers of other member banks of NFS will be able to transact their business through our ATMs located in all major centers. Our Bank already has ATMs installed in socially and religiously important centers like Guruvayoor, Velankanni, Varkala, etc in South India, using which customers of other NFS member-banks can do ATM transactions now onwards. In addition to the “Master Card” brand cardholders, “VISA” brand cardholders of NFS Member-banks can also do business transactions now at our ATMs. For the customers, the ATM reach increases with far and wide geographical coverage – More ATMs and More Coverage now.
ATM Debit Cards: The existing SIB Global-Cum-ATM-Debit Cards already issued by the Bank to the customers are acceptable in all NFS enabled ATMs in the country. List of NFS member banks