Charges for usage of ATMs – Indian Banks’ Federaton
Posted on: 07/Mar/2014 3:59:31 PM
All India Banks federation has requested Reserve Bank of India to introduce charges for the cash services at the ATMs.
While there has ben sustatantial increase in Bank Account holders and ATM users, the charges remain nominal. The expenses incurred on installing & maintaining ATMs including the security aspect is quite high.
Banks’ proposal: On-line transactions and money transfers over the internet are charged. Similarly, ATM usage also must be charged.However, if this becomes effective, the bank industry will face severe problems and the lower strata of the public will also be greatly affected.
The experts have observed that the focus of the banks should be to collect he huge quantities of loans and debts rather than penalizing the public.
