Union Bank

New Delhi, 21st February 2012: Union Bank of India today announced reaching the milestone of 3000 ATMs along with a host of new products and services on ATMs. Chief Guest of the function, Shri Anand Sinha, Deputy Governor, Reserve Bank of India, said that it is heartening to see the bank reaching out to its customer with more and more services and convenience through the most popular channel. Speaking on the occasion, Chairman & Managing Director Shri M.V. Nair said that bank intends to convert its ATMs into a ”one stop shop” for many banking services. The ATMs of Bank thus are now SampUrna ATMs. Shri A.P. Hota, CMD, NPCI and Shri Pradeep Kumar, CEO, Union KBC, Senior Officials of the bank, customers and well wishers were present on the occasion.

Bank announced three remittance products on ATMs viz. NEFT, IMPS and Union eCash. All these remittance products will support online transaction and provide SMS confirmation to the sender and receiver.

National electronic funds transfer (NEFT) which hitherto is available through branches and internet is now made available through ATMs also. NEFT transaction on ATM will reach destination bank account through RBI system in straight through processing mode.

Interbank Mobile Payment Service (IMPS), is interbank funds transfer utility using mobile number and MMID (Mobile Money Identifier). 34 Banks in India are offering this service through mobile banking channel. The service for the first time is being introduced on ATMs. Customers will need to input only mobile number and MMID of beneficiary to make an instant fund transfer to any bank.

Union eCash will enable remittances to anyone based only on mobile number alone. No account number or bank/branch codes are necessary. The beneficiary can draw money from any of the Bank’s ATMs using a pair of codes, generated during the transaction.

Bank also announced the facility of investments into its own mutual fund Union KBC AMC through ATMs. Union Bank debit card holders having an existing folio with Union KBC MF, can now conveniently make their mutual funds investments through ATM. They can also make redemption requests.

Bank has also enabled self generation of ATM pin for customers. Customers of bank will be able to generate the ATM PIN on their own, by calling the toll free IVR using their registered mobile number in two easy steps. Hereafter Union Bank Customers need not wait for receiving the regenerated PIN through PIN Mailers.

Bank also unveiled Student Combo Cards. These cards serve dual purpose of Debit card as well as Identity cards. Students can use the cards at ATMs for drawing cash, for purchases at merchant establishments and internet, as Identity cards in their college and also as access cards for the library.

At this occasion, bank also announced its tie up with M/s. Loyalty Rewardz for offering reward points on card transactions at merchant establishments and internet. Bank’s 8 million debit card holders will now have added incentives for use of their debit/credit cards for purchases and e-commerce. They will be able to redeem online the reward points earned for attractive gifts.

Ministry of External Affairs has authorized TCS to remodel and develope the existing passport offices into Passport Sewa Kendras (PSKs). These PSKs will use state of art technology and infrastructure to provide better ambience and service to the Public. Bank announced a tie up with TCS for establishing ATMs at all Passport Seva Kendras in India. Citizens visiting the PSKs in India will have the facilities of ATMs and Value added services at all locations.

The launch of multiple facilities through ATM is a part of bank’s current initiative aimed at Customer Service Excellence and superior customer experience across all its channels.