Free ATM transactions from Today
From Today onwards, one will no longer pay any charge for withdrawing money from an ATM, irrespective of whether the money dispensing machine is of your bank or not. Around 35,000 ATMs have been deployed in the country by all the banks put together.
The Reserve Bank of India issued orders that the additional levies for using third-party ATMs to avail of services other than balance enquiry or cash withdrawals are discontinued with effect from the midnight of March 31, 2009.
At present, banks charge up to Rs 57 per transaction for using ATMs of other banks. While Rs 25-30 per cash withdrawal is the norm, a balance enquiry at an ATM other than your bank’s can cost Rs 10-15 every time you click on the button. On their part, banks pay between Rs 18 and Rs 31 to the other bank whose ATM was accessed by its account holder.