ATM Fees, Good News: If you have an account with these three banks, there is no charge if the money is drawn from the ATM,
The Reserve Bank of India (RBI) has allowed banks to take a decision on increasing ATM fees after completing the free limit when drawing money from ATMs. In the wake of the growing burden on banks, the RBI has approved the increase in ATM transaction fees.
- The banks will increase their ATM fees from August 1.
- Drawing money from an ATM will be expensive once the free threshold is over.
- Unlimited Cash With Drawal facility from some banks
Bengaluru News: Reserve Bank of India (RBI) has allowed banks to make a decision on increasing the ATM Charge after completing the free limit when drawing money from ATMs. In the wake of the growing burden on banks, the RBI has approved the increase in ATM transaction fees. Drawing money from ATMs (ATMs) will be more expensive once the free threshold is over. Some banks now offer their customers unlimited cash withdrawal facilities.
Banks will increase their ATM Charge from August 1. Under current rules, most private and government banks in the country offer 3 to 5 free ATM transactions in cities and towns. However, in rural areas, banks allow for a maximum of 5 free ATM transactions. Some banks now offer customers the option of drawing money at no cost, such as IndusInd Bank, IDBI Bank, and Citi Bank. Also, Read This: SBI Alert! Internet Banking, UPI Services Not Available Today.
How much will the fee be?
Cash With Draw Fee has now been increased from Rs 20 to Rs 21. Similarly, the RBI has allowed banks to increase the interchange charge to Rs 17 instead of 16. Non-financial transaction ATM fees have been increased from Rs 5 to Rs 6.
If you are an IDBI customer, the bank allows you to conduct free unlimited transactions at its ATMs. IndusInd Bank allows you to conduct unlimited free ATM transactions at any bank’s ATM in India. According to the bank’s website, any ATM in the country (ATM) can conduct unlimited free ATM transactions with IndusInd Bank Debit Card