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Using ATM of other banks now chargeable beyond 5 transactions

Using ATM of other banks now chargeable beyond 5 transactions

From 1 July, savings bank account holders are allowed only five free transactions from ATMs of other banks, including cash withdrawal, balance enquiry and changing your secret identification number.

Are you among those who frequent the nearest ATM (automated teller machine) to withdraw small amounts, check the balance or get an account statement? Make sure you stick to your own bank's ATMs.

From 1 July, savings bank account holders are allowed only five free transactions from ATMs of other banks, including cash withdrawal, balance enquiry and changing your secret identification number. Earlier, only cash withdrawals were counted for the purpose of five free transactions. Any number of non-cash transactions such as balance enquiry was free.

Now, if the total number of transaction at other banks' ATMs exceeds five, a fee will be deducted from your savings account - Rs 20 for each cash withdrawal and Rs 9 for non-cash transactions.