RBI tells banks on what not to count as part of ’free ATM transactions’
5 years, 4 months ago

RBI tells banks on what not to count as part of ’free ATM transactions’

Live Mint  

Mumbai: The Reserve Bank on Wednesday asked banks not to count failed transactions at ATMs due to technical reasons as part of "free ATM transactions" permitted every month. Besides, use of ATMs for balance enquiry and fund transfers too should be not part of the free transactions facility given to a customer. The RBI's clarification in this regard comes after it has come to notice of the central bank that transactions that have failed due to technical reasons, non-availability of currency in ATMs are also included in the number of free ATM transactions. "It is hereby clarified that transactions which fail on account of technical reasons like hardware and software issues, non-availability of cash, and any other reason attributable to the bank should not be counted as valid ATM transactions for the customer.

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History of this topic

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 …

ATM service charges increased from Rs 20 to Rs 21: All you need to know
3 years 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’ …

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 …

Debit card holders can withdraw from any ATM free of charges for next 3 months
4 years, 9 months ago

Debit card holders can withdraw from any ATM free of charges for next 3 months

Live Mint  

Finance Minister Nirmala Sitharaman today said that debit card holders who withdraw cash from any bank's ATM can do it free of charge for the next three months to promote digital financial transactions at the time of coronavirus pandemic. ".so you may have a debit card from a bank, a particular bank, but you will now be allowed, without additional …

Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out
5 years, 1 month ago

Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out

India TV News  

Bank ATM Transaction: In a move to put a curb on the increase in fraud in ATM cash withdrawals and ensure its safety, the Reserve Bank of India on Thursday announced new guidelines on ATM transactions. In its bi-monthly “Statement on Developmental and Regulatory Policies”, the central bank noted that several banks and other regulated entities depend on third-party application …

Good news for debit card, credit card bank ATM users! RBI says don't pay, if this happens
5 years, 4 months ago

Good news for debit card, credit card bank ATM users! RBI says don't pay, if this happens

India TV News  

Debit card, credit card user' alert: If you are a Debit card or Credit card user and go to bank ATMs for cash withdrawal then there is good news for you from Reserve Bank of India. According to reports, RBI has clarified that due to any technical reason----be it hardware or software or wrong PIN entry or communication issue or …

Banks cannot charge for these ATM transactions. Details here
5 years, 4 months ago

Banks cannot charge for these ATM transactions. Details here

Live Mint  

Banks can't include non-cash withdrawal transactions like balance enquiry, cheque book request, payment of taxes and funds transfer under free ATM transactions. 2) Other failed ATM transactions like non-availability of currency notes in the ATM, transaction declines attributable to the bank or service provider will also not be considered as valid ATM transactions for the customer. "It has come to …

RBI to review ATM charges: How will it affect your money withdrawal?
5 years, 6 months ago

RBI to review ATM charges: How will it affect your money withdrawal?

Live Mint  

Mumbai: Recently, the Reserve Bank of India set up a committee to review the automated teller machine interchange fee. The committee will review the existing structures and patterns of costs, charges and interchange fees for ATM transactions, the overall patterns of usage of ATMs by cardholders and assess the impact on charges and interchange fees, assess the entire gamut of …

SBI ATM withdrawal rules: Free transactions, charges and other details
5 years, 6 months ago

SBI ATM withdrawal rules: Free transactions, charges and other details

Live Mint  

The charges you pay for using Automated Teller Machines may change soon. Currently, the State Bank of India offers eight free transactions to regular savings bank account holders, including five transactions at SBI ATMs and three at other bank ATMs. In non-metros, such account holders get 10 free transactions, including five at SBI ATMs and five at others. The bank …

Is RBI planning to wave off ATM charges too? Central bank forms review panel after removing NEFT, RTGS fees
5 years, 6 months ago

Is RBI planning to wave off ATM charges too? Central bank forms review panel after removing NEFT, RTGS fees

ABP News  

Days after the Reserve Bank of India removed charges levied against National Electronic Funds Transfer and Real-time Gross Settlement and directed banks to pass on the benefits to customers, a committee has been formed to examine the gamut of charges taken against the withdrawal of money from Automated Teller Machines. In its June bi-monthly monetary policy meeting, RBI had said …

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