Mysuru: Being burdened by all kinds of transaction charges including the ones on ATM cards by the banks following instructions from the Reserve Bank of India (RBI), India Post is coming to the rescue of the hapless customers.
It is very easy to open accounts in Post Offices now and all one needs is just Rs.50 and along with that an ATM card will be issued free of cost. “We have been issuing ATM cards free of cost till now. But now the new ATM cards come with magnetic chips which is very secure and it cannot be tampered with,” said Senior Superintendent of Post Offices N. Prakash, speaking to Star of Mysore.
There are two types of cards, one is personalised and the other is instant card. For personalised cards, one should apply in Post Office and wait for the card, which comes from centralised office whereas instant card will be issued at the Post Office itself.
“Unlike the banks which start charging after three transactions in the ATM, irrespective of the number of transactions, we do not charge at all. Not many people know the advantages of opening accounts in Post Offices,” he said.
More than 6,000 ATM cards have been distributed in Mysuru until now and the number is growing. There are three India Post ATM facilities in Mysuru, at VV Mohalla, Saraswathipuram and Lashkar Mohalla. “Once you have the card you can use it as a debit card to withdraw money from any ATM including private bank ones,” he said.
India Post is canvassing about the various types of accounts they have like PPF, NSC (National Savings Certificate), Krishi Vikas Patra and senior citizens saving scheme, which offers an interest of 8.3 per cent.
“We will be conducting melas in various parts of the district after Dec.31 to educate the people about the advantages of Post Office accounts and ATM cards,” he said.
Asked if the Department has plans of opening more ATMs even in villages, Prakash said, “We have no plans of opening ATMs in villages. If a person has an account in the village Post Office, we are not issuing him ATM cards. The cards are issued only in branch offices,” he added.
A source in the Postal Department said that in the long run, India Post had plans to introduce smart cards and when that happens, even villagers can use it for most of the transactions. However, this idea is in the preliminary stages, he added.
This post was published on December 17, 2017 6:47 pm