No Charges for using other banks ATM

No Charges for using ATM says RBI

No Charges for using ATM says RBI

Cheers to all Bank Account holders as they need not pay any charges with effect from 01.04.09, for using the automated teller machines (ATM) of other banks, i.e., banks other than the one in which they have account.

During March-2008, The Reserve Bank of India (RBI) asked banks to limit charges for customers using automated teller machines (ATMs) of other banks to Rs 20 per transaction from 31st March 2008. It was also ordered by RBI that this service should be offered free of cost to customers from April 1, 2009. This would be irrespective of the amount and the bank where the customer holds the account.

Banks can, however, levy charges determined by themselves for withdrawals using credit cards and from ATMs located overseas.

RBI has taken the decision of exempting ATM service charges after analysing the public comments received on an Approach Paper released by it on December 23, 2007

To check the further details read this RBI Circular dated 10.03.08 on ATM Charges.

http://gconnect.in/gc/money-matters/no-charges-for-using-other-banks-atm.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s