The concept of cash tree began with a strong association of like minded public sector banks. Swadhan, which was the largest ATM sharing consortium of ATM network pioneered by the Indian Banks Association, was ahead of its time. The idea however was a novel one with a lot of benefit to its member banks. The dismantling of Swadhan prompted the launch of CashTree, which is the first consortium of public sector banks sharing their ATMs.

Six like minded members - Bank of India, Dena Bank, Syndicate Bank, Union Bank of India, Indian Bank and United Bank of India ,came together and decided to continue these services amongst themselves. Being public sector banks, each of these banks had a lot of commonalities which held to form a strong and lasting consortium With a modest beginning with 6 members in the year 2003, the network has more than 3000 ATMs from 12 different banks and is growing. The other member Banks are Indian overseas Bank, Bank Of Maharashtra, The Bank Of Rajasthan Ltd ,Karnataka Bank and YES Bank. Though it started with PSU banks, it was also decided to include some select private banks in its group. While 8 of the banks are PSUs, three are in the private sector. The last Bank to join the group is The Dhanalakshmi Bank Ltd .At present there are 12 member Banks in the group.

Bank of India is the settlement bank for the Cash Tree network with over 10 years of learning and experience in the area of settlement and reconciliation who were handling all the Swadhan ATM Net work of IBA, which holds the key to the success of any consortium. The success or failure of any network strongly depends upon the consensus and like-mindedness of the members.

There are over 3000 ATMs in this consortium. We charge INR 10/- per transaction which includes the switching cost. We have one of the lowest per transaction charges in the country. This is where all our customers stand to benefit out of this consortium.

We have plans for selective expansion. The focus is also in maintaining the efficiency of this network for which we need banks that are like minded and take decisions with mutual consent on common issues. This brings in a consensus. We started with 6 members and , we are already 12 members and we still have two or three banks in the pipeline who are discussing with us for joining the group.

What is unique about Cash tree?

First of all, we decide every thing based on a mutual consensus. There is no room for rigidity amongst member banks when it comes to common goals. Next, we have a core team of senior bankers with proven experience and expertise. We are having a experienced senior Banker as Nodal Officer who takes care all co ordination.

Ours is the only group who have developed a common website www.cashtreeeonline.com with all important information such as ATM locators, member bank details, charges schedule and related information etc . There is a Toll free number ( 1 800 425 1112) where any customer or member bank can lodge complaint and get a satisfactory response within the shortest time possible..