Private sector lender, Federal Bank has linked its ATM network to National Financial Switch (NFS). NFS is managed by National Payments Corporation of India (NPCI).
NFS is currently the largest network of shared ATMs in India. It connects around 61,200 ATMs across 44 banks all over the country.
With this tie up, the customers of Federal Bank would be able to access all these 61,200 ATMs pan India and also all card holders of the 44 participant banks can access the 759 ATMs of Federal Bank.
The total network is thus expected to manage a daily transaction volume of 3 million on an average.
Also, being a member of this network, the bank would be able to make effective and enhanced utilization of its ATM network and provide better customer services all over India.
The bank already has connections to the networks of Visa and MasterCard, which facilitates its debit card holders with access to more than 1.5 million ATMs all over the world.