Free transactions in other bank ATMs cut to 3 per month from 5

Mumbai: The Reserve Bank of India reduced free usage of other bank automated teller machines (ATMs) to three per month from five as the number of such machines has increased to 160,000 by March-end from 27,000 seven years earlier, it said on Thursday.

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The reduction will, however, not be applicable to customers having basic or small savings bank accounts as well as for ATMs located outside Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.

The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank’s account holders.

Reuters