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RBI Guidelines For ATM – New Rules For Transaction, Cash Withdrawal Limit

RBI Guidelines for ATM

Those, who are using ATM Card, should know about the RBI Guidelines for ATM. Customers can check the New Rules for Transaction from this article. It is necessary to get aware about some general knowledge about the ATM Transactions as what are the limits of Cash Withdrawal, what are the other charges for ATM using etc.

Automated Teller Machine is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.

Reserve Bank of India is the central bank which controls and governs all the Development, Commercial, Government, Private, Indigenous Banks etc. and their monetary policies for the economic development of India. You should get RBI Guidelines for ATM from this article, which is well designed by the team of project

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RBI Guidelines For ATM

You just need to use the ATM card issued by particular bank to start your transactions. It reduces time of standing in queue and waiting for the turn to come as ATM machines are available at several places as per the banks in a city.

But there are some guidelines for using ATM and the limit in transaction made per day as per the banks which are issued by RBI. You can check the guidelines mentioned below:

Revised Charges For ATM Transactions

Name Of BankFree Transactions Allowed (Each Month)Fees For Transactions Beyond Free Limit
Own Bank ATMOther Bank ATMFinancialNon-Financial
Axis Bank53Rs. 20+ GSTRs. 9.55
ICICI Bank53Rs. 20+ GSTRs.8.50 + GST
IDBI BankUnlimited5Rs.20Rs.8
Citi BankUnlimitedUnlimited
Bank of BarodaUnlimitedDepends on the policies of those banksRs.20 + GSTRs.10 + GST
HDFC Bank53Rs.20 + GSTRs.8.50 + GST
State Bank of IndiaUnlimited (for salary accounts)Unlimited (for salary accounts)
KotakUnlimited5Rs.20 + GSTRs.8.50 + GST
Canara BankUnlimited5Rs.20 + GSTRs.10 + GST
Punjab National BankUnlimited5Rs.20Rs.20

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Are Customers Entitled To Any Free Transactions At ATMs?

Yes. Customers are entitled to any free transactions at ATMs, which effect from November 01, 2014, a bank must offer to its savings bank account holders a minimum number of free transactions at ATMs as under:

  • The 3 transactions are free for only Metro cities (Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai). For other locations 5 transactions are free.
  • The free transaction limit is not applicable to no-frills or small savings accounts.
  • Banks can choose to offer a higher number of free transactions if they wish to.

Charges For Transaction At ATMs:

Customers have to charged for transactions at ATMs over and above the mandated number of free transactions as according to the guidelines. In case a bank decides to levy charges, the customer can be charged a maximum of Rs. 20/- per transaction (plus service tax, if any) by his/her bank.

RBI Aims For:

  • RBI has aims for providing ATM facility to physically disable or wheel chair users by providing future ATMs with ramps and takes necessary steps regarding this issue.
  • From the 1st July 2014 all banks will install new ATMs as talking ATMs with Braille keypads.
  • Magnifying glasses should be provided in all bank branches for the use of persons with low vision, wherever they require for carrying out banking transactions with ease.

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How Shall The Customer Keep His / Her ATM / WLA Transaction Secure?

Customers should observe following Do’s and Don’ts to keep their transaction safe and secure at ATM/WLA:

  • Customer must conduct any ATM/WLA transaction in complete privacy.
  • Only one card holder should enter and access ATM/WLA kiosk at a time.
  • He/she should never lend his/her card to anyone.
  • Do not write PIN on the card.
  • Never share PIN with anyone.
  • Make sure that no one can see your PIN while it is being entered at the ATM
  • Never generate a PIN that can be easily guessed. As birthday, birthday of spouse or telephone number.
  • Never leave your card in the ATM/WLA.
  • Register mobile number with the card issuing bank for getting alerts for ATM /WLA transactions. Any unauthorized card transaction in the account, I f observed, should be immediately reported to the card issuing bank.
  • Beware of any extra devices attached to the ATMs/WLAs. These may be put to capture customer’s data fraudulently. If any such device is found, inform the security guard / bank/ white label ATM entity maintaining it immediately.
  • Keep an eye on suspicious movements of people around ATMs/WLAs. Customer should beware of strangers trying to engaging him/her in conversation or offering assistance / help in operating the ATM.
  • Remember that bank officials will never ask for card details or PIN over telephone / email. So, do not respond to any vishing / phishing mails from people indicating that they represent your bank.

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Frequently Asked Questions:

1) What Are The Services/Facilities Available At ATMs / WLAs?

Ans: In addition to cash dispensing, ATMs/WLAs may offer many other services/facilities to bank customers. Some of these services include:

  • Account Information
  • Cash Deposit (Acceptance of deposits are not permitted at WLAs)
  • Regular Bills Payment (not permitted at WLAs)
  • Purchase of Re-load Vouchers for Mobiles (not permitted at WLAs)
  • Mini/Short Statement
  • PIN change
  • Request for Cheque Book

2) What Is Personal Identification Number (PIN)?

Ans: PIN Personal Identification Number is the numeric password which is separately mailed / handed over to the customer by the bank while issuing the card. it is use as password. Customers are suggested to don’t share it with anyone.

3) What should be done if card is lost / stolen?

Ans: In case if you lost your ATM Card, you should immediately contact the card issuing bank and notice them that you have lost your card for and should request the bank to block the card.

RBI Guidelines for ATM


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