The free ATM transactions and the charges are much in news these days. All the banks are declaring the number of free transactions they will allow to their customers. Recently SBI, HDFC and AXIS had announced to provide only free five transactions at their own ATM and three at the other banks ATM. From the 6th transaction onwards the bank will be charging Rs 22.47 for the cash withdrawal.
As per RBI the revised ATM charges after free transactions will be charged from 1st of November. Many banks have not finalized it till the 1St of November. Reports have also stated that Union bank of India has increased its charges and the number of free transactions allowed by the bank will be 8. Different banks have different number of free transactions along with some conditions. Like In case of Axis Bank's Prime Plus Savings account holders, the first 10 transactions are free at Axis Bank ATMs, against the first five. The customers are being suggested that for getting updates on your account balance, opt for alerts through email instead using ATM.