ATM has made banking easier, but now new limits and charges have been implemented on its use.
New rules for ATM use
Free transaction limit
Who will apply to
Charge for excess of limit
Difference according to bank
High-value cash rules
PAN and base mandatory
Ways to avoid ATM charge
New rules for ATM use
RBI has released new guidelines on ATM transactions. Now know how many times you can withdraw money and when will the charge be charged.
Free transaction limit
Free ATM transaction facility in metro cities only 3 times.
Free transactions 5 times in non-metro cities.
Who will apply to
The free limit includes cash withdrawal + balance inquiry + non-financial transaction.
Charge for excess of limit
Cash withdrawal: Maximum Rs 23 per transaction (including GST)
Balance Inquiry: Maximum Rs 11
Difference according to bank
Every bank fixes a little fee according to its policy.
High-value cash rules
Reporting on a cash deposit or withdrawal of Rs 20 lakh or more in a year.
PAN and base mandatory
It will now be necessary to provide PAN and Aadhaar for 20 lakh or more cash transactions.