Banks will charge a fee after withdrawing more money from an ATM than the limit set by the bank.
Mumbai: During the Corona period, some people lost their jobs, some lost their salaries and some were hit by inflation. Rising fuel and vegetable prices are breaking the backs of ordinary citizens. On the other hand, people who withdraw money from ATMs will also be hit hard. Now it is going to be more expensive to withdraw your own money from ATMs.
Banks will charge a fee after withdrawing more money from an ATM than the limit set by the bank. The Reserve Bank of India has allowed banks to charge Rs 21 per transaction at ATMs. So now you have to use ATM carefully.
These revised rates will be effective from January 1, 2022. Customers can make free transactions five times per month from the bank’s ATMs. Each subsequent transaction will be charged. The RBI has also said that banks will charge higher fees for debit and credit card payers.
What is your card Do you know that
The Reserve Bank has recently banned MasterCard. This card has since become a topic of discussion. Both MasterCard and Visa are considered to be the largest sources of payment in India. Whenever a customer uses this card, all his information goes to the server of that company.
The servers of these companies are abroad. Where information is processed and verified. Banks that use this card service pay a fee every 3 months.
BankBazaar CEO Adil Shetty said in an interview that an exchange fee is charged for each transaction on the card. This amount is too small for the transaction.
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