Monday, July 4, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Personal Finance

3 Banks That Allow Unlimited Free ATM Transactions In India

MtR by MtR
June 21, 2021
in Personal Finance
0


IDBI Bank

IDBI Bank

The bank claims to allow 5 free transactions at its branch ATMs. At other Bank ATMs, you can make 3 free transactions in 6 metro cities and 5 free transactions in other places. The bank, on the other hand, provides free ATM transactions for a particular set of credit and debit cards. According to RBI standards, amounts incorrectly debited to customers’ accounts as a result of unsuccessful ATM transactions are refunded back within seven working days of receiving the customer’s grievance.

Related articles

Here is how startups can become investor ready

July 3, 2022

Pine Nuts: Flunking Personal Finance Class

July 3, 2022

IndusInd Bank

IndusInd Bank

At every bank ATM in India, IndusInd Bank allows unlimited free ATM transactions. The bank claims on its official website that “Unlimited Free ATM Withdrawal with your IndusInd Bank Debit Card across any ATM in India.” Along with unlimited free ATM withdrawals, the bank also offers doorstep Banking, which allows you to have your cheques and cash picked up or delivered at your residence without incurring any fees. The bank provides one free Cashier’s Cheque or Demand Draft delivery per day, one free Cheque Pick-up per day, one free Cash Delivery per day up to Rs 1 lakh, and one free Cash Pick-up per day up to Rs 1 lakh as part of its doorstep banking service.

State Bank of India

State Bank of India

SBI account holders can use any of the State Bank ATM-cum-Debit Cards to conduct free transactions at State Bank Group ATMs, which are located across the country. State Bank Group ATMs comprise all ATMs operated by State Bank of India and its Associate Banks, which include State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore. However, customers of SBI should maintain an average savings account balance of more than Rs 25,000 to make unlimited withdrawals from State Bank Group (SBG) ATMs. But a savings account holder with a balance of more than Rs 1,00,000 would be eligible for limitless transactions at SBG and other bank ATMs as well.

5 Recent Cash Withdrawal Rules You Need To Know About

5 Recent Cash Withdrawal Rules You Need To Know About

Recently, the Reserve Bank of India (RBI) has authorized the banks to raise fees for cash and non-cash ATM transactions over the free monthly allowance. Here are five updates regarding ATM cash withdrawal rules that every ATM user should be aware of:

1. Free cash withdrawal rule at own bank ATMs: Customers can now enjoy five free transactions each month from their own bank ATMs, including financial and non-financial transactions.

2. Free ATM transaction rule at other bank ATMs: Customers or ATM Cardholders can now enjoy free transactions from other bank ATMs, including financial and non-financial transactions, with three transactions in metro areas and five in non-metro locations.

3. New ATM Cash Withdrawal Charges: The Reserve Bank of India has authorized banks to levy fees for ATM transactions over the free threshold. In its latest circular RBI has clearly mentioned that “To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. This increase shall be effective from January 1, 2022.”

4. New intercharge fee: In all locations, the RBI has approved a hike in interchange fee from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions. This will take effect on August 1, 2021.

5. Hike in ATM withdrawal charges beyond the free transaction limit: A customer or ATM Cardholder will have to pay Rs 21 for each ATM cash withdrawal instead of Rs 20 that exceeds the free transaction threshold, according to a recent RBI circular. This will go into effect on January 1, 2022.





Source link

Related Posts

Here is how startups can become investor ready

by MtR
July 3, 2022
0

Personal Finance Here is how startups can become investor ready Monday July 04 2022 In a recent article by Quartz...

Pine Nuts: Flunking Personal Finance Class

by MtR
July 3, 2022
0

Michigan is about to become the 14th state to mandate a high school personal finance course, congratulations. I only wish...

5 Recession-Proof Passive Income Streams to Consider

by MtR
July 3, 2022
0

I want to make sure I have passive income coming in if a recession hits, so I asked experts. Financial...

DWP confirms £22million cash injection to help older workers | Personal Finance | Finance

by MtR
July 3, 2022
0

The Government money will be spent on new measures to help thousands of people who are over 50 and out...

In what order should you tap your retirement funds? | Personal-finance

by MtR
July 3, 2022
0

You work hard for decades and save diligently for retirement, but unfortunately, you can’t retire from paying taxes.An important part...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Your queries: Mutual Funds | Children’s funds invest in a mix of equity and debt

July 3, 2022

5 assets investors are buying in the dip: From commodities to ETFs

July 3, 2022

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Record Breakers: Four key commodity predictions from Canberra’s pen-pushers

July 3, 2022

Recent News

Your queries: Mutual Funds | Children’s funds invest in a mix of equity and debt

July 3, 2022

5 assets investors are buying in the dip: From commodities to ETFs

July 3, 2022

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter