Only 3 free withdrawals from other ATMs, 5 from own If you are in a metro and planning to withdraw cash from other banks automated teller machines (ATMs), be careful. Savings bank account holders will, henceforth, enjoy only three free transactions at other ATMs, instead of five per month. The countrys banking regulator, the Reserve Bank of India has just issued a note to this effect. This will apply for transactions done at ATMs located in six metro centres — Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad, which are well-served in terms of payment infrastructure. The central bank has also advised banks to provide their own savings bank account holders with at least five free transactions per month at their own ATMs. Beyond this, banks may decide to levy transaction charges but that should not exceed Rs 20 plus taxes per transaction.
Posted on: Sat, 16 Aug 2014 06:38:16 +0000
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