Debit Card Spending Limit Accounting & Operating Procedure

Debit Card Spending Limit Accounting & Operating Procedure

Debit Card Spending Limit Further to our Circular No. Branches are advised to follow the following accounting and operating procedures against our Shared ATM Card transactions:

Branch shall open a new account in General Ledger Styled “Cash with ATM”. While loading cash in the ATM “Cash with ATM” account shall be debited for the amount to be loaded and the voucher to be passed under joint signatures of the Cash Custodians of the branch. An officer of the Branch who will receive the amount of cash for loading in ATM shall sign the voucher overleaf as token of receipt. Branches shall check or load cash in ATM between 9:30 a.m. and 10:00 a.m. After receiving the officer will load cash in ATM under supervision and authority of the Joint Custodians of the Cash of the branch. At least one of the Joint Custodians must be present while loading or checking the ATM who will give a certificate on the back of the voucher that the cash is loaded/checked in his presence.

Branch shall maintain an official record of each and every transaction of loading in the ATM and the withdrawals found while checking.

The ETN (Electronic Transactions Network Ltd.) team shall train responsible branch officials on handling/managing ATM and shall give appropriate guidance and written instructions to be followed for loading/unloading/checking/ managing ATMs.

On receipt of Statement of Transactions in ATM Blue Card account Head Office, Card Division shall forward the statement of transactions to the respective branch where the customer is maintaining ATM Card account. Branch shall immediately debit ATM Card account (link account number being mentioned in the statement) of the related party. While debiting the account branch shall carefully check that the respective ATM Card account is debited and not the savings or other deposit account of the party. It is to be noted that the amount to be utilized for withdrawals through ATM Card shall be segregated and kept in a separate account of the party named “ATM Card Account”.

Statement of transactions in Debit Card Spending Limit received from Head Office, Card Division has to be filed separately and preserved for record and Inspection by Head Office, Audit Division. In case of delay in remitting proceeds to Head Office the concerned branch must pay interest for the delayed period

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