In a message, the bank said that it will be discontinuing the ATM services but suggested the customers to use their debit cards at other banks' ATMs.
The ATMs of Suryoday Small Finance Bank will not be available from October 1 as the bank has decied to shut down all its ATMs. It is learnt that the customers of Suryoday Small Finance Bank have been informed about the development.
In a message on its website, the bank said that it will be discontinuing the ATM services but suggested the customers to use their debit cards at the ATMs of other banks. The message from the bank said, “Due to operational reasons, Suryoday Bank ATMs will be discontinued with effect from 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.”
According to Suryoday Small Finance Bank, the decision to shut down ATMs came because not many people are using their ATMs. “We realised that far too many customers were not using our ATMs, we could not make it a profit centre, hence we decided that we give customers free transactions on other bank ATMs rather than continuing to keep these machines," said MD of Suryoday R Baskar Babu to a leading national daily.
He added that the bank had a very low number of cash transactions as the customers do not visit ATMs very often due to the existence and penetration of UPI and digital wallets.
Suryoday Small Finance Bank has 26 ATMs and 555 branches across the country and according to Babu nearly 80 per cent of the business has gone digital.
“Net interest income for the quarter ended 30 June 2021 stood at Rs 123.5 Cr, a decline of 1.7 per cent compared to the corresponding quarter of the previous year and a rise of 42.1 per cent on a lower base of previous quarter. The reduction in net interest income compared to the corresponding quarter of the previous year is primarily due to reversal of interest income of Rs 7.8 Crore on NPA accounts, impact of negative carry on account of excess liquidity maintained during the quarter and increase in the operating expenses by 32.8 per cent,” said Suryoday Small Finance Bank in a press release.
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 "Bank customers ALERT! This bank's ATM will shut down from October 1 - Details inside")
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