ATM: Do You Have to Pay Rs 173 per Transaction after 4 Withdrawals in a Month? Govt Clarifies
2 years, 5 months ago

ATM: Do You Have to Pay Rs 173 per Transaction after 4 Withdrawals in a Month? Govt Clarifies

News 18  

ATM Withdrawal Rule: The Reserve Bank of India has its guidelines when it comes to withdrawing money from ATMs or do non-financial transactions using them. दावा: ATM से 4 से अधिक बार पैसे निकालने पर ₹173 काटे जाएंगे। #PIBFactCheck▶️यह दावा फर्जी है। ▶️अपने बैंक के ATM से हर माह 5 मुफ्त ट्रैन्ज़ैक्शन किए जा सकते हैं। ▶️इसके बाद अधिकतम ₹21/ट्रांजैक्शन या कोई टैक्स होने पर वह अलग से देना होगा। 🔗https://t.co/nkl0LBZOHN pic.twitter.com/AAWcNxd63r — PIB Fact Check July 11, 2022 What is the Real ATM Withdrawal Rule? As per the RBI, the central bank had constituted a Committee in June 2019 under the Chairmanship of the Chief Executive, Indian Banks’ Association to review the entire gamut of Automated Teller Machine charges and fees with particular focus on interchange structure for ATM transactions. “Beyond the free transactions, the ceiling / cap on customer charges is Rs 20 per transaction. To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction.

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History of this topic

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges
2 years, 6 months ago

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges

News 18  

The country’s largest lender State Bank of India offers five free transactions for customers maintaining a monthly balance of up to Rs 1 lakh at its ATMs in Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad. SBI charges Rs 10 to withdraw money from the bank’s ATM beyond the free limit, while it levies Rs 20 for financial transactions from other …

ATM service charges increased from Rs 20 to Rs 21: All you need to know
2 years, 11 months ago

ATM service charges increased from Rs 20 to Rs 21: All you need to know

Op India  

The service charges per transaction for Automated Teller Machines across banks have increased to Rs 21 from Rs 20 starting Saturday after the Reserve Bank of India issued an order stating that customers will have to pay Rs 1 more beyond the permissible free transactions for cash as well non-cash purposes. In a nutshell, customers who transact at other banks’ …

Looking For Unlimited Free ATM Transactions? Here Are Banks That Offer This Service
3 years, 6 months ago

Looking For Unlimited Free ATM Transactions? Here Are Banks That Offer This Service

ABP News  

New Delhi: In a recent notification, the Reserve Bank of India has allowed the banks to raise the charges for cash and non-cash ATM transactions beyond the threshold of the free monthly limit. Most private and public banks in India currently allow five free ATM transactions in urban cities and towns from their own bank ATMs. But some private banks …

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon
3 years, 6 months ago

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon

News 18  

The Reserve Bank of India has allowed banks to increase charges on automated teller machines to Rs 21 per transaction. For customers using other bank ATMs for cash withdrawal are allowed three free ATM transactions in metro cities and five in non-metro centres. “It is also observed that the last change in interchange fee structure for ATM transactions was in …

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit
3 years, 6 months ago

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit

India TV News  

The Reserve Bank of India has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free ATM transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. Beyond the free transactions, the ceiling/cap on customer charges is Rs 20 per transaction. "To compensate the banks for the higher interchange …

ATM Withdrawal to Minimum Balance, All You Need to Know About Bank Service Charges
3 years, 7 months ago

ATM Withdrawal to Minimum Balance, All You Need to Know About Bank Service Charges

News 18  

Having a bank account has become a necessity in today’s world. The Axis Bank levy charges if a customer breached the limit of four free transactions or cash withdrawals of up to Rs 2 lakh in a month, whichever is earlier.Since May 1, Axis Bank users now have to pay 2.5 per cent of the amount withdrawn from the savings …

Insufficient balance: How much SBI will charge for failed ATM transaction
4 years, 4 months ago

Insufficient balance: How much SBI will charge for failed ATM transaction

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. As per the information available on the official website of the State Bank of India sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. The bank allows its customers maintaining an average balance of …

SBI new ATM withdrawal rules: Transaction limits, charges and other details
4 years, 5 months ago

SBI new ATM withdrawal rules: Transaction limits, charges and other details

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. In view of the coronavirus pandemic, SBI had waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs on account of exceeding free number of transactions. "In view of the announcement made by Finance Minister on 24th March, …

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