Karnataka Postal Circle Suspends ATM Card Issuance for Cards with Expiry Under Two Years.
Bengaluru, Karnataka - October 29, 2024
In response to a growing number of customer complaints, the Karnataka Circle of India Post has issued a directive to halt the issuance of ATM cards with an expiry period of less than two years from the date of issuance. This action, officially communicated by the Office of the Chief Postmaster General, Karnataka Circle, is aimed at addressing customer dissatisfaction and ensuring that new ATM cards meet appropriate banking standards.
Background
Recent complaints have revealed that ATM cards issued to Postal Savings Bank (POSB) account holders at various post offices have a shorter-than-expected expiry period. Customers have expressed frustration with cards expiring in under two years, a situation the Postal Department acknowledges could inconvenience customers and complicate account access.
Directive Highlights
To mitigate these issues, the following measures have been enacted, effective immediately:
- Suspension of ATM Cards with Short Expiry:All Post Offices in Karnataka have been instructed not to issue ATM cards with a validity period under two years. This suspension will remain in effect until the Directorate’s FS Division can procure and distribute new cards that comply with extended validity requirements.
- Limited Exceptions for Urgent Needs:In rare and urgent cases, post offices may issue these ATM cards if the depositor provides written consent. This consent must confirm the depositor’s awareness of the shorter expiry period and their agreement to receive the card despite its limited duration.
The directive, signed by Assistant Postmaster General Shriharsha N, emphasizes that these actions aim to minimize customer inconvenience and align with banking norms. The Chief Postmaster General has also assured that steps are underway to expedite the procurement of new ATM cards with standard expiry periods.
Future Actions
The Karnataka Circle is working with the Directorate to expedite the supply of ATM cards with an extended expiry period. Until then, depositors needing ATM services are advised to consult their local post offices and make arrangements in cases where immediate access to a card is essential.
For further updates, customers can reach out to their local post office or visit the Karnataka Postal Circle website.
