All the public and private sector banks have announced that their account-holding customers can withdraw cash from the ATMs 5 times a month free of charge!
In case money is withdrawn from ATM from the 6th time onwards, an additional charge of Rs. 20/- will be imposed per transaction for the customer.
The banks inform that the cost of installation and maintenance has increased considerably!
As such, an additional amount of Re. 1`- has been added to the present charges of Rs. 20/-charged for exceeding the allowed number of ATM transactions!
As such, when the customers access ATM for cash withdrawal more than 5 times, an additional charge of Rs. 21/- will be collected for each additional transaction! This is effective from 17th August (Wednesday, yesterday)!