Transactions which fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM would not be counted in overall free limit transactions
If you go to an ATM and there is no cash, then your bank cannot count this transaction in the free transaction limits.
Reserve Bank of India (RBI) has clarified that because of any technical reason, be it hardware or software, communication issue, wrong PIN entry or even non-availability of cash in ATM, banks cannot count such transactions in the overall free transaction limit.
RBI in its clarification said, "Transactions which fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM; and other declines ascribable directly / wholly to the bank/service provider; invalid PIN/validations, etc, shall not be counted as valid ATM transactions for the customer. Consequently, no charges therefore shall be levied."
NOT CHARGEABLE
|
- Transactions which fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM would not be counted in overall free limit transactions
|
RBI noted that it has come to notice that transactions that have failed due to technical reasons, non-availability of currency in ATMs, etc, are also included in the number of free ATM transactions by banks.
The central bank has clarified that non-cash withdrawal transactions such as balance enquiry, cheque book request, payment of taxes, funds transfer etc from own customers shall also not be part of the number of free ATM transactions.
RBI had issued a comprehensive circular on free usage of ATMs in 2014, which had restricted total other-bank free of charge ATM transaction limit in six metros – Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore – to three per month. But if the card is used in other cities beyond the six metros, free transaction limit can be maximum five per month. It will include cash as well as non-cash transactions like mini statement, balance enquiry, PIN change, etc.
Most of the banks offer between three and five 'other bank' free ATM transactions, but for their own customers they can offer unlimited number of free ATM transactions as per their policy. RBI has limited the maximum transaction charge to Rs 20 in case the number of free transactions exceeds the limit of five per month.
Zee Media Newsroom
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "ATM")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}