How many transactions free from ATM ?
Today’s going to change many things in the country. The number of ATM use special one. Today, most peoples will use the ATM, so today will be a special day for all these people. Let us know what’s going to change today.
Use of ATM
Reserve Bank of India (RBI) every month from the second(other) bank has reduced the number of free ATM Use. ATM of another bank every month to every customer free transactions will be allowed only three times. Earlier it was number five. Thereafter the rate of Rs. 20 will be charged on every transaction, but noted that this rule will apply only 6 (six)major cities. These cities are Mumbai, New Delhi, Chennai, Kolkatta, Bangalore and Hyderabad, but no-frills account holders will not apply to this rule. This rule will be effective from November 1, 2014.
RBI directions to Bank
In addition to these cities, the old rules will operate elsewhere. That these places use number of other bank ATM’s every month five (5) will be free. RBI has asked banks to clearly write it on every ATM that is located in the metro or non-metro.
Five transactions free on your bank’s ATM’s
RBI advice to bank that they are allow to every customer minimum five transactions free on every ATM on each place. In case of transactions above five that they have allowed banks to charge customers.