Transaction Limits Explained
The Reserve Bank of India (RBI) sets rules to regulate ATM transactions. Banks typically offer a certain number of free transactions, which includes both
financial and non-financial transactions, every month. This limit applies to transactions at ATMs in metro cities, ensuring fair access to cash for everyone.
Free Transaction Details
Banks provide a specific number of free ATM transactions to their customers. This number can vary from bank to bank. Generally, you might get around 3-5 free transactions per month in metro cities at your bank's ATMs, and sometimes even more. It's like getting a free 'chai' at your favorite 'tapri'.
Exceeding the Limit
If you exceed the free transaction limit, you'll be charged a fee for each extra withdrawal. These charges are usually nominal, but they can add up. The charges vary depending on the bank and the type of transaction, so it's always good to be mindful of your withdrawals, just like keeping track of your 'kirana' expenses.
Avoid ATM Charges
Want to avoid those ATM charges? Plan your withdrawals! Try to consolidate your cash needs into fewer transactions. Also, using your own bank's ATM can often get you more free transactions. Consider UPI payments or digital wallets for daily transactions, just like paying for 'golgappe' on the street.
