New RBI Rules for ATM Uses Limit from November 2014

If you are one of them who are using Automated Teller Machines (ATM) frequently. Then you are need to change your habit because the Reserve Bank of India (RBI) has reduced free transactions limit. Using ATMs is going to more expensive for customers from November 2014. Customers will required to pay additional fee after free uses limit for using ATM for both financial and non-financial transactions.

If you are living in six metropolitan cities including Delhi, Mumbai, Hyderabad, Bangaluru, Kolkata and Chennai, then you will allow only three transactions from ATMs of other bank and five from the same in a month. If you will do any transaction over limit by your bank then you will charge Rs. 20 for same for both financial and non-financial transactions. New rules of Reserve Bank of India (RBI) will effect from the November 01, 2014.

Maximum number of five free transaction including of financial and non-financial transactions for same bank ATMs per month allowed at all locations.

New RBI Rules for ATM Uses from November 2014 - Withdrawal, Inquiry, Limit, Balance Check

If you are living in other than six metropolitan cities, then you will continue enjoy five free transactions per moth from the other bank ATMs. After free transactions per month you will charge Rs. 20 for each cash withdrawal and Rs. 9 for non-cash transactions. If you are one of them who has zero balance account and other no-frills accounts in non metro cities, then you will exempted from such transaction charge as earlier.

Banks are free to fix their own charge for exceeding number of transaction limits. However, the Reserve Bank of India (RBI) has fixed the maximum charge to Rs. 20 per transaction.

How to Reduce ATMs uses: Simple Tips

  1. Visit your bank for cash withdrawal.
  2. Use internet banking to check balance, mini statement and fund transfer.
  3. Do the transactions when it's important.

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