InvestorQ : What all ATM transactions are chargeable by banks?
shivangi Arora made post

What all ATM transactions are chargeable by banks?

Ayushi Kampani answered.
3 years ago

First up, it is important to understand this rule before getting to answering your question. Every bank offers its customers three free transactions every month. Thus, any transaction a customer makes after the third one will be charged in accordance with the charges set by the banks. Its important to know that this rule is only applicable for metro cities.

Please note, these free transactions need not be financial transactions only. In fact, they include financial as well as non-financial transactions.

Financial transactions are:

- Cash withdrawal

- Depositing cash

Non-financial transactions are:

- Making a balance enquiry

- Changing your debit card’s ATM pin

- Requesting a mini statement

- Booking/ investing in a Fixed Deposit via the ATM

Thus, any transaction you make after three non-financial transactions, will attract you charge.