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Thursday, August 18, 2005

Iran and Bahrain Connect ATM Systems

The Iranian ATM system has been connected to that of Bahrain, enabling the customers of Bahraini banks to use the ATM machines in Iran and vice versa. Iran’s Shetab system, a banking system connecting all Iranian banks for use of ATM cards, was connected to the ATM banking system of Bahrain on Wednesday, providing the customers of Iranian and Bahraini banks with the opportunity to use both countries’ ATM machines.

With the new opportunity, customers with Rial (Iranian currency) accounts in Iranian banks can each day take up to 300$ cash from Bahraini banks ATM machines, yet the amount can not surpass an annual sum of 3000$. Holders of foreign currency accounts have no upper limit on their cash withdrawals. The banking transaction however charges the other country’s customers with a commission fee. Read More ....

Source: CHN reBlogged By: News Blog re-Blog
Filed Under: Bahrain, Iran, ATM, Bank | Permalink

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