Starting 1st April 2009, cash withdrawal from any bank’s ATM in India would attract no charge.
| How many times have you found yourself looking for your own bank’s ATM to withdraw money? This is because till now, you had to pay a fee of Rs. 20 for using other banks’ ATM for withdrawing money. |
Note: There have been some changes to this, starting 15th october 2009. Please read “Restrictions on usage of ATMs of other banks” for more.
The RBI Circular
But not any more – starting from 1st April 2009, cash withdrawals from any bank’s ATM would be free of charge for you.
Thanks to a circular from the Reserve Bank of India (RBI), you would not have to pay any extra fee for withdrawing cash from an ATM of a bank where you do not hold the account you are withdrawing from (also called third party bank).
(Your bank would pay a fee to the other bank instead of you!)
What is free…
Here is a list of items you would not be charged for:
- Cash withdrawal from your own bank’s ATM within India using your debit card
- Cash withdrawal from another bank’s ATM within India using your debit card
- Balance inquiry at your own bank’s ATM within India
- Balance inquiry at another bank’s ATM within India
… And what is not
The bank can still charge you for using certain services. These are:
- Cash withdrawal from your own bank’s ATM within or outside India using your credit card
- Cash withdrawal from another bank’s ATM within or outside India using your credit card
- Cash withdrawal from your own bank’s ATM outside India using your debit card
- Cash withdrawal from another bank’s ATM outside India using your debit card
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