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New ATM charges come into force in six metros

Every transaction beyond fifth will be charged Rs 20 per use.

By: Press Trust of India | New Delhi | Published: November 2, 2014 2:00:35 am

Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a charge of Rs 20 per transaction.

As per the Reserve Bank’s new guidelines that came into force on Monday, bank customers in six metros —Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore — are allowed to withdraw money and/or carry out non-financial transactions like mini-statements at ATMs of banks, where they hold saving/current accounts, free of charge only five times a month.

Every transaction beyond this threshold will be charged Rs 20 per use. The number of free transactions at ATMs of non-home banks has also been cut to three times a month from five times, according to the RBI’s guidelines.

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