As request by many of Indian banks
now reserve bank of Indian has announced
the latest norms about the free access to
automated teller machines (ATMs) of any bank.
According to RBI's notifications free access
will be closed from October 15 as the third-party
ATM usage would carry a cap on the withdrawal amount
and the number of transactions each month.
From October 15, a customer can take out
a maximum of Rs.10,000 per withdrawal
from ATMs not owned by the bank in
which the customer has an account.
Going by the IBA guidelines, a savings account
holder may get five free third-party transactions
a month and could be charged from sixth onwards.
However, current account holders might
not get any free third-party usage.
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