Category: ATM cards

1) Invoke “CCMM” Menu and select “modify” function.

2) Enter CIF ID and select card No using searcher. 

3) After selecting card number click on “GO”button. 

4) In the second screen ,select action as “replacement “

5) Click on “instant radio button” in card type: Delete the existing Kit Number and enter New “Instant EMV Chip card Kit Number” then press Tab. 

6)Ensure that the product type should populate “EMV608.”

7) Click on “validate” and submit in case no errors.

8) Once the data is submitted successfully, the same should be verified by the Supervisor without fail.

1) Invoke “CCMM” Menu and select “modify” function.

2)Enter CIF ID and select card No using searcher. 

3) After selecting card No click on “GO” button. 

4) In the second screen Select action as “replacement” :

5) Click on “personalized radio button” in card type ​and press Tab. 

5) Ensure that the product type should populate ‘EMV608″.

6) Click on “validate ” and submit in case no errors. 

7) Once the data is submitted successfully, the same should be verified by the Supervisor without fail.

Source : Potools

Please inform all the SOLs to display the following notice at the relevant places/Notice Boards in Post Office premises and inside ATM rooms.

Dear POSB Customer,

All Magnetic Stripe based DoP ATM cards will be blocked on 31 Jan 2020. 

Thanks & regards,

Incharge Operations,

ATM UnitCBS-CPC,

4th Floor, Bengaluru GPO Building,

Bengaluru-560001

free – 18004252440

postatm@indiapost.gov.in

Reserve Bank of India (RBI) had asked all banks to replace their customers’ magstripe based old ATM cum debit cards with new EMV chip-based ones.

According to the RBI circular, dated August 27, 2015, the last date to comply with this order for India Post Magnetic Stripe based Old ATM Cum Debit Cards is 31.01.2020

Hence All The Post Offices Should Replace Existing Active Magnetic Stripe Cards

MAGNETIC STRIPE CARDS (Card No starting with 607245)

With EMV CHIP BASED CARDS (Card No starting with 608072) before 31/01/2020

Either

By Issuing Instant EVM Cards

By placing Personalized EMV Card request.

All SOLs Must Prioritize To Replace Existing Magnetic Cards With New EMV CHIP CARD Immediately.

Thanks & regards,

Incharge Operations,

ATM UnitCBS-CPC, 4th Floor, Bengaluru GPO Building, Bengaluru-560001

Toll free -18004252440

Things To Know About The Post Office ATM card Facility

1) Post Office permits cash withdrawal of ₹25,000 per day through its ATM card, according to India Post website.

2) A maximum cash that one can withdraw in a single transaction through Post Office ATM is ₹10,000.

3) India Post or Department of Post offers free transactions to its customers at all Post Office ATMs.

4) Post Office also offers free transaction to its customers at all Punjab National Bank ATMs

5)Post Office allows three free transaction in a month when its debit card is used at other bank’s ATMs in metro cities.

6) India Post allows 5 free transactions in a month when its debit card is used at other bank’s ATMs in cities other than metros.

7) In metros as well as non-metro cities, the prescribed limits are inclusive of financial and non-financial transactions.

8) India Post customers have to pay certain charges for financial and non-financial transactions at other bank ATMs after they exceed the prescribed limit.

9) At other banks’ ATMs, any financial transaction beyond the prescribed number of free transactions will be chargeable at ₹20 plus applicable GST (Goods and Services Tax), according to India Post.

10) At other banks’ ATMs, any non-financial transaction beyond the prescribed number of free transactions will be chargeable at ₹8 plus applicable GST, according to India Post.

Moreover, a credit card is also your backup in a cash crunch. Modern day credit cards come with various sops such as life insurance, accidental cover, accumulation of air miles over spends , airport lounge access, and cash back options on spends or rail reservations etc.

However, what is generally ignored is the fact that credit cards aren’t free. They do have charges – some well-known, others not no well-known. The little-known charges need to be understood to avoid penalties, heavy interest rates, and excess payment charges later on.

The credit card comes with the advantage of cash withdrawals from ATMs. But this service is not free and a transaction charge around 2.5% of the cash advance is applicable. An interest on the cash from the date of withdrawal will be levied ranging from 24% to 46% per year. This must always be used as the last resort. Also, cash withdrawals are attract interest immediately unlike other credit card transactions for which there is an interest-free period of 40-50 days.

When you buy a credit card, always be clear about the annual charges. Sometimes, these may be waived off fully or for a limited period. Usually, a free credit card is offered without this charge. For some cards, the charge may be applied from the second year. Always be aware of these charges, and whether they’ve been waived off for you.

A credit card bill displays the total amount that is due, and the minimum payable amount – typically 5% of the total dues. A lack of understanding of both these charges has the potential to land you in a debt trap.

Many people often pay only the minimum payable amount and leave the rest pending. It is important to note that a 2% to 4% interest rate is applied per month on the remaining amount, and the monthly rate of interest is annualised to arrive at an APR or annualised percentage rate of 36% to 38%, which is extremely high for any loan.

This annualised percentage rate combined with nominal rate of interest can result in a huge financial burden. Therefore, always pay your credit card bill in full and on time every month. If you’re unable to do so, pay off the debt in the shortest period possible to avoid heavy interest charges.

You will be penalized for a late credit card payment. This comes into force when the customer defaults over the monthly credit card due payments after the due date. A flat late payment charge is levied and is not dependent on the interest charges.

Before GST, the Service Tax levied on credit card-related services was 15 per cent. After GST, this increased by 3 per cent and the credit card companies now charge 18 per cent. You should be aware that after GST, interest or late payment charged would be taxed at a higher rate.

Although, credit cards empower us to meet our urgent money needs, it is important to understand all the charges before we procure and start using one.

Source: BT