Restriction on usage of ATM of a different bank: free only for 3 times a month!
Posted on: 16/Aug/2014 2:13:09 PM
Reserve Bank of India has imposed a new restriction for using ATMs of different banks.
Until now, Customers were permitted to use other bank ATMs 5 times free during a month. Now, this has been reduced to 3 times in a month.
This restriction will apply only to the 6 metro cities.
The 6 metros are Chennai, Bengaluru, Hyserabad, Mumbai, Kolkata, and Delhi.
This restriction will not be applicable to Small & Basic Savings accounts and ‘No-frills’ accounts.
Banks have to permit the usage of their ATMs 3 times. When usage exceeds 3 time, they will charge additional fees which would not exceed Rs. 20/-.
The operation will be transparent with the customer being informed about the number of times of usage.
