ATM Charges: To avoid paying ATM charges, follow these things, there will be no loss, know these rules.
ATM Charges: ATM i.e. Automated Teller Machine is a self-service banking outlet. You can withdraw money from ATM, check your balance or even transfer funds. Different banks provide their ATM services by installing cash machines in different parts of the country. You can withdraw money from any of these machines, regardless of whether you hold an account with the same bank or not. But sometimes charges have to be paid for withdrawing money from ATM or for other things. Many times the customers are responsible for this. If you do not do anything careless, you can save yourself from ATM charges.
You will not have to pay ATM Charges through these methods
If you use your bank’s ATM, you will not be charged any withdrawal fee. If you use another ATM, you may be charged a fee for ATM withdrawals.
Save your free transactions for withdrawal
Save your free transactions for ATM withdrawals. For things like account statement or amount transfer, you can use the net banking facility of your bank.
Use participating ATMs
Sometimes your bank may partner with other banks. If so, you can withdraw money from the ATM of the participating bank.
Pay bills online
Instead of withdrawing money to pay your bills, you can use online methods. This allows you to save your free transactions for other purposes.
Swipe your card
By swiping your cards instead of using an ATM, you will reduce the time it takes to withdraw money from the ATM.
ATM Charges has to be paid after the limit
According to Bankbazaar, after reaching the cash withdrawal limit from ATM, you have to pay Rs 21 for every transaction. According to the RBI, the purpose of the increase in transaction fees is to compensate for the increase in basic costs and interchange fees that financial institutions have to bear. Banks generally provide five free ATM transactions a month.
