Canara Bank chairman & managing director RK Dubey, launched a unique payment product, which enables cash withdrawal at ATMs in joint accounts, which are operated “jointly”, using two cards with two distinct PINs.
The facility is enabled for all joint accounts operated by two joint accounts holders. Joint account holders will be issued ATM debit cards individually. One of the account holder is designated as ‘Primary’ account holder and the other will be ‘Secondary’ account holder. Transaction is initiated by primary card holder by inserting the card in the ATM and keying the PIN. The transaction is authorised only after the validation by secondary cardholder, using the card and PIN issued to him.
The ATM debit cards can be used only for the ATM cash withdrawal. The card is valid for domestic usage on Canara Bank ATMs only. The facilities of balance inquiry, mini statement, PIN change are available for joint account holders individually on operation with their respective cards. SMS alerts for ATM cash withdrawal transaction will be received by the first joint account holders on registered mobile number.