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Third-party ATM transactions limit reduced to two: RBI
Highlights
Reserve Bank of India has put a check for withdrawing cash from other ATM machines other than home bank ATMs. The number of transactions was limited to five per month.
Reserve Bank of India has put a check for withdrawing cash from other ATM machines other than home bank ATMs. The number of transactions was limited to five per month previously. However, requests from banks citing various losses incurred due to these transactions made the Apex Bank to take this decision.
Previously account holders were able to transact up to five times from another bank’s ATM facility and fee was capped at Rs 15 per transactions after the free transactions. Transacting from the home bank’s ATM is unlimited.
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