Earlier ,Withdrawing cash from "OTHER ATM machines " other than your home bank ATMs were limited to only five transactions per month FOR FREE WITHOUT ANY SERVICE CHARGE.....After the first five free transactions from third-party ATMs,a SERVICE charge of Rs 15 per transaction was levied................The RBI has asked banks to keep the existing rules in place in rural areas for now...
In common words,a person can withdraw cash from any OTHER ATM machine(other than his home bank)for free upto five transactions only....after the first free five transcations,the person is charged Rs 15 extra for every transaction he made
BUT NOW,Withdrawing cash from "OTHER ATM machines " other than your home bank ATMs were limited to only TWO transactions per month FOR FREE WITHOUT ANY SERVICE CHARGE....After the first TWO FREE transactions from third-party ATMs,a SERVICE charge of Rs 20 per transaction was levied................The RBI has asked banks to keep the existing rules in place in rural areas for now...so only old rules apply for banks(ATMs)in rural areas.....
AS you already know,there is no limit in transcations that are made from home bank(ATM) :)
In common words,a person can withdraw cash from any OTHER ATM machine(other than his home bank)for free upto five transactions only....after the first free five transcations,the person is charged Rs 15 extra for every transaction he made
BUT NOW,Withdrawing cash from "OTHER ATM machines " other than your home bank ATMs were limited to only TWO transactions per month FOR FREE WITHOUT ANY SERVICE CHARGE....After the first TWO FREE transactions from third-party ATMs,a SERVICE charge of Rs 20 per transaction was levied................The RBI has asked banks to keep the existing rules in place in rural areas for now...so only old rules apply for banks(ATMs)in rural areas.....
AS you already know,there is no limit in transcations that are made from home bank(ATM) :)
In January Indian Bank Association(IBA) recommended a change ,to include all the ATM transactions, including the own-bank ones, to 5 per month ;in view of rise in costs due to additional security measures being put in place!!
IBA had suggested to the RBI to maintain the current practice of making an account holder pay Rs 20 per transaction for the ones beyond the limit it has proposed. ...
THIS ARTICLE WAS WRITTEN IN VIEW OF PUBLIC INTEREST :)
THIS ARTICLE WAS WRITTEN IN VIEW OF PUBLIC INTEREST :)
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