RBI has made Free - with effect from April 1, 2009 but after this Banks have started getting many practical difficulty in handling inter-banking settlement specially for small value transactions. So Customers will be offered five free third-party withdrawals per month
From Tuesday,13th October 2009, banks will start charging customers Rs 18-20 every time they withdraw money from another bank's ATM, and such withdrawals will also face a limit of Rs 10,000.
Customers will be offered five free third-party withdrawals per month from savings accounts and will be charged from the sixth transaction onwards.
However, all banks are not offering the same facility of five free withdrawals per month to current account and no-frills account customers. For instance, HSBC and HDFC Bank will charge current account customers for all third-party withdrawals.
Customers have been enjoying the flexibility of withdrawing cash from any banks' ATM free-of-charge since April 1, 2009 since a Reserve Bank of India (RBI) directive to that effect came into force.
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