NEWS & ADVICE : SAVINGS ACCOUNTS
Hike in ATM charges
By Vaibhav Aggarwal
Dec 10, 2013
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After the brutal attack on a woman inside ATM in Bangalore. Indian banks are taking measures to increase security in ATMs. In order to combat with the problem banks are planning to hire more guards, install more security equipments. As a result the customers have to bear the cost of security equipments, cameras, security guards etc. The banks have decided to raise the ATM charges by Rs 6 per month. The banks have presented the idea to the RBI.

The Reserve bank of India has not yet approved the plan. Customers are provided with free 5 transactions every month after that the customers are suppose to pay Rs 20 on each transaction. On the other hand a nominal fee of Rs 9 is charged for the debit card services.


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