Mumbai: Removing cash from other ATM machines other than your home bank ATMs is not common. While the earlier transactions were limited to five per month, banks are lobbying the RBI lobby to reduce the same to two citing various losses, which includes the security charges incurred to their ATMs .
The RBI has not yet finalized anything on the transaction limit, but has asked banks to keep the existing rules in place in rural areas for now.
In the present scenario, account holders were able to transact up to five times from another bank’s ATM facility. Transacting from the home bank’s ATM is unlimited. Third-party bank ATMs will start charging Rs 20 per transaction after the first two free transactions.
The present fee is capped at Rs 15 per transactions after the first five free transactions from thirs-party ATMs.
