Cashnet is India’s largest
shared ATM network owned and operated by Euronet Services India
Private Ltd (Euronet India) with IDBI Bank acting as the Settlement
Bank. The Reserve Bank of India (RBI) has granted the following
approval on the 8th April 2003.
“idbi bank (the “Bank”) to act as a settlement
bank for the settlement of transactions performed over a Shared
Network of automatic teller machines (“ATMs”) that are
serviced and managed, at a central processing centre owned by Euronet
Services India Private Limited (“Euronet India”) and
coordinated by Euronet India.”
Cashnet was officially launched in Mumbai on May 21st 2003 and is
the first Independent nationwide-shared ATM network in India.
What happens if I do not receive the exact amount
In case you receive an amount which is
less than what you had asked for, please inform your bank (whose ATM/
debit card you have) at the earliest. Your bank would raise a chargeback
for the same on Cashnet. Your bank would credit your bank account
either immediately on receiving your complaint or after receiving
a confirmation from the acquiring bank (whose ATM you had used), that
there was an error at their end, depending on the bank’s policy.
Either way, please rest assured that there are sufficient monitoring
tools present to ensure that the issue is resolved and your account
is credited at the earliest.
What are the various transactions that are available
Currently, there are two transactions that are available
on Cashnet – Cash Withdrawal and Balance Enquiry.