ATM Balance Enquiry is Free for Any Bank’s ATM; All ATM Usage is Free from April 2009

There is nothing technical in this news, but I feel this is an important news for all of us. I love this transition of Indian banking system from the paper ledger into adapting latest technologies.

The Reserve Bank of India has instructed that India banks not to charge for balance inquiries through ATM (Automated Teller Machines), with immediate effect.

RBI has also limited the fee for cash withdrawals from ATM at Rs 20 per transaction, irrespective of the amount withdrawn and the bank where the customer holds the account. This comes effect from March 31, 2008. All ATM cash withdrawals will be totally free from April 2009.

As I understand, All ATM usage will be free from April 2009. Customers can use ATM of any bank for any ATM transaction, for free.

The service charges for cash withdrawal with the use of credit cards and cash withdrawal in an ATM located abroad, may be determined by the banks themselves. According to the RBI, India has 32,342 ATMs as of December 31, 2007.

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RBI stated that ensuring the safety and security of the payment systems, it has put in place three modes of electronic payments, that is, Real Time Gross Settlement (RTGS) System, National Electronic Fund Transfer (NEFT) System and Electronic Clearing Service (ECS). Payments through these modes have been steadily growing in the last few years.

15 Comments

    • Hi Madhu,

      We have made note of your mobile number.We’ll contact you and work to address your issue at the earliest.

      Regards,
      ICICI Bank Customer Service Team.

  1. after cash withdrawl or deposit send me current balnce to my mail frequently
    i will be always obliged for this
    yours faithfully

  2. after cash withdrawl or deposit send me current balnce to my mail frequently
    i will be always obliged for this
    yours faithfully

    Best Regards,
    Sivaraj V

  3. wat the fuck bank dis is i put the money in account before 3weaks back near than 13k. i took up just 1.5k only after 5min i’m cheeking my account its showing only 500 rs only…….. wat fuck bank.today i’m asking to the bank manager the person his telling i’m sorry its not our falt……….. wat he fuck indian bank……………..dis my account no 777097677.v.k.prabu from salem

  4. after cash withdrawl or deposit send me current balnce to my mail frequently
    i will be always obliged for this
    yours faithfully

  5. Systems like NEFT and ECS are really very helpful to customers who otherwise have to become victims of Postal losses/delays/errors committed by humans involved in the delivery process of cheques and refund orders etc.

    I myself have been victim of this kind of human error very recently.After losing around 500/- in cash and around 40 days of panic, I got my money back.

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