Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of 20 rupees per transaction from today.
As per the Reserve Bank of India new guidelines, 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 and current accounts, free of charge only five times a month.
Every transaction beyond this threshold will be charged 20 rupees per use. Besides, the number of free transactions at ATMs of non-home banks has been cut to three times a month from five times.
At places other than the six metro centres, the facility of five free transactions for savings bank account customers will remain unchanged upon using other bank ATMs.
The cap in the number of free ATM transactions will not apply on small and no-frills or basic savings bank deposit account holders who will continue to enjoy five free transactions.