From 1 April 2009, you will be able to withdraw cash free of cost from any bank’s ATM. Balance enquiry at all ATMs have been made free already.The Reserve Bank of India (RBI) had found that ATMs were mostly being used for cash withdrawals and balance enquiry, even though they offer more services. Earlier, charges varied bank to bank and were also based on the ATM network used. The customer was not aware of the charges that could be levied for using another bank’s ATM, and this discouraged him from using the ATMs of the other banks.
The RBI has, however, allowed banks to decide the service charges for cash withdrawn using a credit card and cash withdrawals from ATMs located abroad. In a draft proposal in February, the RBI had proposed that ATM transactions be free of cost, and had sought public comments in this regard. Based on the feedback a framework of service charges will be implemented by all banks
