<p>The second largest private sector lender HDFC Bank has decided to discontinue issuing slips after cash withdrawals at ATMs and will alert the customer through SMSes.<br /><br /></p>.<p>“We have decided to discontinue issuing receipts after cash withdrawals. The SMS which will be sent will have detailed information on the withdrawn amount and the balance in account,” a senior bank official said.<br /><br />The bank is piloting the initiative at a few ATMs at present and will roll out the same across its network of over 11,700 ATMs by the end of June, the official added.<br /><br />Cash withdrawals account for the bulk of transactions at ATMs and the bank witnesses an average of 2 crore cash withdrawals every month at its ATMs.<br /><br />When asked about the benefits for the bank, the official said the switch to paperless mode will help it save under Rs 10 crore a year spent on paper.<br /><br />At present, customers are given a choice on whether they want a printed receipt or not.<br />However, much of the receipts get discarded as soon as they come out and if not disposed off in the right way, also pose a security risk as they contain private information.<br />This is a part of the digital initiative for the bank, under which it had last year launched the ‘Green PIN’ scheme wherein card-users were given the PIN numbers electronically rather than in a printed kit, the official said.<br /><br />The official pointed out that customers of other banks who use HDFC Bank’s ATMs will also not get the receipt as sending the SMS is mandatory for any bank.<br />HDFC Bank added around 500 machines last year.<br /><br /></p>
<p>The second largest private sector lender HDFC Bank has decided to discontinue issuing slips after cash withdrawals at ATMs and will alert the customer through SMSes.<br /><br /></p>.<p>“We have decided to discontinue issuing receipts after cash withdrawals. The SMS which will be sent will have detailed information on the withdrawn amount and the balance in account,” a senior bank official said.<br /><br />The bank is piloting the initiative at a few ATMs at present and will roll out the same across its network of over 11,700 ATMs by the end of June, the official added.<br /><br />Cash withdrawals account for the bulk of transactions at ATMs and the bank witnesses an average of 2 crore cash withdrawals every month at its ATMs.<br /><br />When asked about the benefits for the bank, the official said the switch to paperless mode will help it save under Rs 10 crore a year spent on paper.<br /><br />At present, customers are given a choice on whether they want a printed receipt or not.<br />However, much of the receipts get discarded as soon as they come out and if not disposed off in the right way, also pose a security risk as they contain private information.<br />This is a part of the digital initiative for the bank, under which it had last year launched the ‘Green PIN’ scheme wherein card-users were given the PIN numbers electronically rather than in a printed kit, the official said.<br /><br />The official pointed out that customers of other banks who use HDFC Bank’s ATMs will also not get the receipt as sending the SMS is mandatory for any bank.<br />HDFC Bank added around 500 machines last year.<br /><br /></p>