Local Tie

Sampath and Bank of Ceylon signed a memorandum of understanding to link their automatic teller machines locally, a top official said.
The deal will create a combined network of more that 150 machines which almost double the amount of ATMs that customers in each bank can now access.rn

rnThough customers of banks that use the Cirrus network, a part of the MasterCard global system, can withdraw money from ATM of each others banks transaction fees can top Rs 100 in some cases.rn

rnBut when the interconnection point is established locally, costs are negligible.rn

rnOfficials say the Sampath – Bank of Ceylon link would be up and running from early next year.rnrn