Suryoday Small Finance Bank has informed its customers that it will be discontinuing its ATM services from October 1, 2021.
“Due to operational reasons, Suryoday Bank ATMs will be discontinued w.e.f. 1st Oct 2021. However, you can continue to use your Suryoday Bank ATM/debit card at any other bank’s ATM for your cash withdrawal requirements,” the bank said on its website.
The small finance bank said that this decision was made due to viability issues, as not many people were using their ATMs.
According to a report published in The Times of India, Suryoday R Bhaskar Babu, MD of the bank, said, “We realized that now more of our customers are not using ATMs. We are not able to make it a profitable deal. That’s why we decided that instead of running these machines, customers should be given the facility of free transactions in ATMs of other banks.”
About Suryoday Small Finance Bank:
Suryoday Small Finance Bank Limited is a scheduled commercial bank. The operations of the bank as an SFB commenced in 2017. The bank has a presence across 13 states and UTs across India, including in states like Maharashtra, Tamil Nadu and Odisha.
As of June 30, 2021, Suryoday SFB had a total of 26 ATMs and 555 branches, out of which 97 were liability focus outlets.
Alternative resort for the customers:
Internet banking and mobile banking for other services will continue to operate for customers as an alternative resort and will be available 24X7.
In addition to this, customers can continue to use their Suryoday Bank ATM/Debit Card at any other bank’s ATM for cash withdrawal requirements.