For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Free unlimited ATM transactions may end this year

By Religare
|
Free unlimited ATM transactions may end this year
While the number of free transactions at another bank's ATM is already capped at five transactions a month, the bankers have now demanded that the same limit be imposed on using own bank's ATM also. Currently, customers are allowed an unlimited number of free transactions at own bank's ATM.
 

According to a Business Standard report, bankers have also proposed to a working group on ATM security that the rate for each ATM transaction (interchange fee or charge) be raised from Rs 15 to Rs 18. The group was established to devise strategies for enhancing security at ATMs and its cost implications.

Banks have also suggested revision in charges to ensure viability of the ATM network. "Eventually, customers will have to share the cost burden," said an official of a public-sector bank, as per the Business Standard report.

In a bid to provide the 24*7 secutity at ATM centres, bankers have also demanded the freedom to display advertising material for non-banking products within the ATM sites.

Dion Global Solutions Ltd.

Read more about: atm bank security
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more