With the recent RBI guidelines, banks will charge you if you withdraw more than the specified number of times from you ATM.
The RBI's move is to reduce cash transaction and maintain transparency in financial transactions. The charges were levied with effect from November 2014 in some banks.
It may have so happened, that you would have withdrawn many number of times and hence charges may be applicable.
In may banks, if you are a privileged customer then there are no charges levied, beyond the 3 transactions that you undertake.
Here are few smart ways to avoid ATM charges and not to exceed limit:
1) Keep Some cash handy
Check your monthly expenses, make a list, calculate how much you may need extra and withdraw the same and keep it. It is always a good thing to keep some cash handy.
2) Do not loose interest portion
However, do not keep abnormally high amounts in cash. If you do not calculate and withdraw you may lose interest amounts that banks give on the savings bank accounts.
3) Make use of your debit card
Ensure that you may the best use of your debit card. Most of the shops have a swiping machine, which will facilitate in using your debit card.
One can use credit cards to purchase and get entitled for rewards points or cash back based on the card they hold.
This is better then withdrawing money at the ATM and then crossing the limit for the number of withdrawals.
4) Withdraw from the same bank
The RBI has permitted banks to charge of the transactions cross the specified three times.
Therefore, make sure that you use your own bank ATMs even if it is little far. Make use of the ATM locator facility which is provided by the most of the banks.
5) Register yourself at Bank
To avail phone banking, SMS facility, internet banking you first need to register with your bank by providing correct mail ID and contact number.
By doing so you would eliminate the need for checking your balances at th ATM machine and taking a print-out.
6) Multiple Accounts
If you have multiple accounts, then make use of it and one can withdraw from different debit cards. This is a added advantage of maintaining balance in all the accounts.
7) Dormant Account
If you have a dormant account or which you are planning to close can come to use now.
Just by maintaining minimum balance and some extra amount which you think you may need if you maintain, than you can use that debit card to make more number of transaction.
8) Download Bank Apps
If you are Android mobile user, then financial transactions can be at your finger tips if you download your bank app.