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RBI asks banks not to count failed transactions, balance enquiry as ‘free ATM transactions’

Friday, August 16, 2019, 10:31 AM

RBI asks banks not to count failed transactions, balance enquiry as ‘free ATM transactions’

The Reserve Bank asked banks not to count failed transactions at ATMs due to technical reasons as part of “free ATM transactions” permitted every month. Besides, use of ATMs for balance enquiry and fund transfers too should be not part of the free transactions facility given to a customer. Banks provide certain number of free transactions at ATMs to their customers and beyond that impose charges. The RBI’s clarification in this regard comes after it has come to notice of the central bank that transactions that have failed due to technical reasons, non-availability of currency in ATMs are also included in the number of free ATM transactions.

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Avoid these mistakes in ATM transactions

Thursday, July 25, 2019, 6:40 PM

Avoid these mistakes in ATM transactions

Avoid these mistakes in ATM transactions We all use ATM cards each day to carry out various transactions. You can't imagine even a single day w ...

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How To Avoid Bank Fraud: Review By IndianMoney

Wednesday, November 28, 2018, 6:51 PM

How To Avoid Bank Fraud: Review By IndianMoney

Bank frauds are very common in India and many people have lost crores of rupees to them. Fraudsters use many tricks to steal money from the bank accou ...

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How your bank may cheat you?

Wednesday, November 14, 2018, 4:44 PM

How your bank may cheat you?

How your bank may cheat you? Can you imagine life without a bank? Definitely Not. A bank plays a very important role in our lives and having a bank ...

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ATM Transaction Failed? You Can Claim Rs 100 Per Day

Thursday, November 1, 2018, 4:04 PM

ATM Transaction Failed? You Can Claim Rs 100 Per Day

Nowadays, almost everyone uses ATMs. Introduction of ATMs have eliminated the need to stand in long ...

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