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Useful articles for your finance management by our team of experts

Banks planning to limit free ATM usage to 5 per month

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Banks are planning to limit the free ATM usage in own branches to 5 times a month. Indian Banks Association (IBA) has taken this suggestion to the RBI. Until now, ATM usage was free in the home bank’s branches unlimited times. There is a limit of 5 free transactions on non-home bank ATM’s.

IBA felt the limit of 5 free transactions would be enough to meet the withdrawal needs of customers. For balance enquiries, customers can use the more convenient option of SMS. Payment for shopping, mobile bills, ticket booking, etc can anyways be done without using cash these days.

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