NEWS & ADVICE : PERSONAL LOAN
Now 3 free transactions from non home ATMs will be allowed
By Vaibhav Aggarwal
Aug 19, 2014
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From long back the banks are discussing over the issue of reducing the free transactions from non home ATMs. Now it is expected that RBI will reduce the number of free transactions from non home ATMs to 3 per month. Earlier the free transactions allowed were 5 per month.

The transaction made more than 3 will be charged with Rs 20. RBI has also asked the bank to charge the customer for more than five transactions even from the home branch ATM. These rules does not account for the customers having basic or small savings bank accounts.

RBI has reported that the number of ATMs has increased to 160,000 by March-end from 27,000 seven years ago. SBI bank along with its 5 associate banks is having largest ATM network in the country. The Banks have now made ATM facilities much safer with numerous up gradations done in them.


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