Five Times Cut Off in Free Money Transactions – ATM Centers
Indian Banks Association (IBA) has recommended the Central Reserve Bank to reduce the free money transactions in ATM centers to 5 times.
As per the current rule, if the customer uses the same bank ATM centers of their saving bank account, then they can get free ATM transactions. At the same time, if they are using some other banks ATM centers then for more than five free transactions, charges will be collected from them.
Now the IBA has recommended the Reserve Bank of India, that the customers in total can avail only five free transactions, this includes both their saving account bank and other bank ATM centers.
On the continuation of the lady officer got attacked in the ATM center, Bangalore, the Central Government has ordered all the banks to place the security in their ATM. Centers. On placing this order, the IBA has recommended for this cut off in free transaction in ATM centers.
