HDFC Bank and Kotak Mahindra Bank, a financial institution, have signed a memorandum of understanding to share their ATM network. This agreement will give the customers of both the banks access to over 1,400 ATMs across the country. | |
| HDFC has 1,335 ATMs across 228 locations in the country while, Kotak Mahindra has 75 ATMs at 41 locations. |
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| The charges for HDFC Bank customer for using the partner's ATMs are Rs 18 for Cash withdrawals and Rs. 7 for Query-based transactions such as balance enquiry. |
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| Kotak Mahindra Bank is offering access to HDFC Bank ATM network free of cost to most of its customers. Also, Kotak Mahindra Bank's existing ATM network tie-up with UTI Bank has come to an end. |
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| The agreement was signed at HDFC Bank's head office Aditya Puri, MD of the bank and Uday Kotak, executive vice-chairman and MD, Kotak Mahindra Bank. |
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| Mr Uday Kotak said, "Convenience for today's busy customers is paramount. As bankers we have to anticipate what these needs for convenience are and devise our offerings in a manner that will simplify the customer's day to day interaction with his bank." |
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