The usage of Automated Teller Machines (ATMs) attract charges, beyond a certain number of transactions that are undertaken everyday. Here are a list of charges on use of ATMs in India.
1) Usages in metropolitan cities
If you use the ATM machine to undertake transactions more than 3 times a month, you will be charged Rs 20. However, the restriction is only for the metropolitan cities of Mumbai, Delhi, Kolkata, Chennai, Hyderabad and Benguluru.
2) What constitutes an ATM transaction
Of course, cash withdrawal and taking a statement at the machine would be considered as a transaction. However, there are other things also which would be added to the total of three. These include request of check book, changing of your PIN etc. So, be careful the next time when you undertake these things.
How to reduce ATM Transactions?
1) Withdraw slightly larger sums
If you are running the expenses of a family, you would well know the amount of cash you would need at home. Let's say your monthly expenses are Rs 25,000. You can withdraw at least part of it in two installments. Now, if you keep withdrawing a small sum every other day, your number of transactions will increase. So, it is better to withdraw slightly larger sums.This will help reduce ATM charges in India.
2) Use internet banking
Make the best use of internet banking to check your balances, take a print of statement and to request a cheque book. There are no charges that are applicable for making a request through the internet.
3) Avoid using other bank ATMs
It is best to avoid using the automated teller machine of the other banks as the charges are heavier.
4) Avoid using cash for all transactions
You can also avoid using cash for all transactions and start using your credit or debit card. This would reduce your dependence on cash and hence frequent withdrawals.The above will help you reduce ATM charges in India.