Corporation Bank launches two products

Our Banking Bureau
16 July 2002

Mangalore: Corporation Bank has launched two more products CorpJunior and CorpSenior.

CorpJunior is meant to facilitate easy transfer of money to the customers wards studying in "distant places," while CorpSenior is meant to take care of money transfers to the customers dependent parents or spouse. The transfer of funds is effected through the banks inter-connected online ATMs across India.

Any accountholder of the bank can now open CorpJunior or CorpSenior accounts in the branch where he maintains his/her account and get CorpBank ATM cards for his wards, dependent parents or spouse, which can then be used to withdraw money from these accounts at the dependents place of residence.

The accountholder can transfer money to these accounts as per his/her requirements or give standing instructions to the bank for periodical transfers. Accountholders also have access to information regarding their accounts through the ATMs.

The ATM card can be used across the banks online ATM network from Amritsar to Thiruvananthapuram and from Ahmedabad to Kolkata.

These new accounts, the bank says, eliminate the "hassles" faced in the "traditional modes" of remittance by demand drafts and dispatch through mail or courier services.