BANKING AFFAIRS

Detailed explanation-1: -Transactions at any other bank’s ATM in Metro locations: Banks must provide their savings bank account holders a minimum of three free transactions (including financial and non-financial transactions) every month at ATMs located in six metro locations.

Detailed explanation-2: -ATM cash withdrawal rules: Usually, banks offers five free transactions at the ATMs every month. All the lenders provide a limited number of free ATM transactions every month. Once the limit is exhausted, banks levy a charge along with taxes for any further transactions, including financial and non-financial services.

Detailed explanation-3: -Withdrawal at Other ATMs 3 free transactions in metros and 5 free transactions in non-metros per month are allowed. For any financial transaction beyond the transaction limit, Rs. 20 is charged; and for any non-financial transaction, it is Rs. 8.5.

Detailed explanation-4: -The number of free transactions at other bank ATMs in metro cities is three and in non-metro cities is five. Post that, Rs 21-plus applicable taxes-will be charged for cash withdrawal and Rs 8.50, along with taxes, will be charged for non-financial transactions.

Detailed explanation-5: -A limit of Rs 10, 000 per transaction is required for the cash withdrawals from ATMs of other bank accounts. A charge of Rs 20 is applicable for exceeding the number of ATM transaction limits.