In a few months, customers will be able to access their savings accounts from any of four select post offices in the city.
The Department of Posts plans to interconnect four head post offices (HPOs) in the city on the lines of core banking technology, on a pilot basis. Customers will also have access to automated teller machines (ATMs) to be set up in the Anna Road HPO, and the post offices in Mylapore, T. Nagar and Tambaram.
A senior official said, “We expect to launch the core banking facility in these post offices by March-end. The system will be introduced in other post offices in the city in a phased manner.”
Measures are afoot to seek ATM equipment suppliers and construct ATMs inside the complexes of the post offices. Once the facility is introduced, customers would not have to spend time waiting at the counters to withdraw cash.
G. Mohan, a resident of Mogappair, said, “I have a savings account in Vadapalani post office. If it is extended to all head post offices, it will be useful to
The core banking and ATM facilities are also aimed at saving time for senior citizens. Officials said that core banking would allow customers to carry out transactions from any of the networked branch offices. Account holders could also check the details, with regard to their deposits, online.many customers like me who visit the post office frequently to deposit or withdraw money.”
As on October 31, there are nearly 45 lakh account holders in Chennai city region, which includes those in other neighbouring districts. Of this, about 20 lakh account holders are in Chennai and its suburbs alone.
This measure would also help in reducing transaction costs for the department. Officials said that all post offices across the State would be computerised and interconnected in a phased manner.
People who hold accounts in banks could also eventually use the ATMs to be set up by the postal department. Depending on the patronage and availability of space, there are plans to provide ATMs in locations away from the post offices.