Withdraw cash from any ATM for free from Apr 1
New Delhi, Mar 29: Giving relief to common man, banks in India from Apr 1 will not charge extra for cash withdrawals using ATM and debit cards issued by other banks. Thanks to an RBI! But banks can charge a fee on services like withdrawing cash using credit cards and at ATMs located outside India.
In 2008 Mar RBI issued a guideline limiting the fee charged by banks for using their ATMs by clients of other lenders to Rs 20. It had also allowed the use of ATM for purposes like balance enquiry free of any charge. RBI's this initiative was to ensure more transparency and help customers use ATMs installed withing the nation with out spending more.
Banks presently charge Rs 20 per transaction when a customer uses the ATM of any other bank than the one in which he/she has an account with.