Money & Banking

RBI clarifies on free transactions at other bank ATMs

Our Bureau Mumbai | Updated on November 25, 2017 Published on October 10, 2014

The Reserve Bank of India on Friday clarified that the total number of free-of-charge transactions (inclusive of both financial and non-financial) at other bank ATMs would continue to remain at five a month if the transactions are carried out at both the metro centres and other locations.

While the overall cap of five remains unchanged, only three transactions (inclusive of both financial and non-financial) would be free of charge if carried out at other bank ATMs located in six metro centres — Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad.

At other locations (other than the six metro centres mentioned above), the present facility of five free transactions for savings bank account customers shall remain unchanged.

Banks are, however, free to offer more number of free transactions a month at other bank ATMs as well as own ATMs in any geographical location.

Published on October 10, 2014
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