{"id":596,"date":"2014-11-15T00:00:00","date_gmt":"2014-11-14T18:30:00","guid":{"rendered":""},"modified":"2015-12-31T16:19:41","modified_gmt":"2015-12-31T10:49:41","slug":"limit-of-free-atm-transactions-in-other-bank-is-revised-from-1st-november-2014","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/banking\/limit-of-free-atm-transactions-in-other-bank-is-revised-from-1st-november-2014\/","title":{"rendered":"Limit of free ATM transactions in other bank is revised from 1st November 2014"},"content":{"rendered":"<p style=\"text-align:justify\">Reserve bank of India has issued<br \/>\nthe notification as on 14<sup>th<\/sup> August 2014 and instructs the all commercial<br \/>\nand co-operative banks for rationalization of number of free ATM transaction.<br \/>\nThe number of the ATMs is increased to 1.6 lacks across the country by March<br \/>\n2014. Few banks and Indian Bank\u2019s Association had approached the RBI seeking<br \/>\nthe changes in the fees regarding the free transactions at other bank\u2019s ATM. RBI<br \/>\nanalysis the ATM deployment in the country and decided to restructure the ATM<br \/>\ncharges with effect from 1st November 2014&nbsp;in following manner.<\/p>\n<p style=\"text-align:justify\"><\/p>\n<p style=\"text-align: justify;\" text-align:justify;text-indent:-.25in\"=\"\">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Free<br \/>\nATM transactions for saving bank account at other banks\u2019 ATM are three<br \/>\ntransactions per month. Earlier this limit was five transactions per month. Here<br \/>\ntransaction means both financial as well as non financial transactions. If<br \/>\ncustomer check the account balance in the ATM this is also consider the<br \/>\ntransaction. However, this change in limit of free transactions is applicable<br \/>\nonly in ATMs located in six metro centers i.e. Mumbai, New Delhi, Chennai,<br \/>\nKolkatta, Bengaluru, and Hyderabad.&nbsp; The present<br \/>\nfacility of five free transactions remain unchanged for other location i.e.<br \/>\nother than these six metros. &nbsp;&nbsp;<\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\">This reduction<br \/>\nis also not applicable to the small \/ no frills \/ basic saving deposit account.<br \/>\nThey can enjoy the limit of five transactions per month.<\/p>\n<p style=\"text-align:justify\">It is instructed<br \/>\nby RBI to the banks that they should display properly on each ATM about the \u201cmetro\u201d<br \/>\nor \u201cnon metro\u201d sticker or poster to enable the customer to know the status of<br \/>\nATM. &nbsp;<\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align: justify;\" text-align:justify;text-indent:-.25in\"=\"\">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The<br \/>\nmaximum charges permitted by RBI to the banks for transactions exceeding the<br \/>\nfree transaction are Rs.20 per transaction plus service tax. RBI also instructs<br \/>\nthe banks to inform the customers regarding the charges in fair and transparent<br \/>\nmanner. <\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><a href=\"https:\/\/taxclick.org\/PDF\/15112014-signed.pdf\" target=\"_blank\">Notification<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reserve bank of India has issued the notification as on 14th August 2014 and instructs the all commercial and co-operative banks for rationalization of number of free ATM transaction. The number of the ATMs is increased to 1.6 lacks across the country by March 2014. Few banks and Indian Bank\u2019s Association had approached the RBI &#8230; <a title=\"Limit of free ATM transactions in other bank is revised from 1st November 2014\" class=\"read-more\" href=\"https:\/\/taxclick.org\/type\/banking\/limit-of-free-atm-transactions-in-other-bank-is-revised-from-1st-november-2014\/\" aria-label=\"More on Limit of free ATM transactions in other bank is revised from 1st November 2014\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[175,174],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Limit of free ATM transactions in other bank is revised from 1st November 2014 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/banking\/limit-of-free-atm-transactions-in-other-bank-is-revised-from-1st-november-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Limit of free ATM transactions in other bank is revised from 1st November 2014 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Reserve bank of India has issued the notification as on 14th August 2014 and instructs the all commercial and co-operative banks for rationalization of number of free ATM transaction. 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Few banks and Indian Bank\u2019s Association had approached the RBI&hellip;","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/596"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=596"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/596\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}