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According to reports, a cap, on the withdrawing of money from an ATM, which does not hold a particular customer’s account, will be introduced with effect from Oct 15.
The customers will be able allowed to take a maximum of Rs. 10,000 per withdrawal from an ATM which does not have his or her account, with the number of such transactions limited to 5.
The Reserve Bank of India had urged the banks for restricting the usage of third-party ATMs with effect from mid of October during the month of August 2009. This decision has been adopted by the RBI in wake for the proposals put forward by Indian Banks' Association.
IBA had put forward the suggestions in front of the regulator in July, in which it had mentioned high interchange expenditure incurred by the banks due to extensive usage by third parties and small-ticket withdrawals.
The IBA guidelines suggest that a customer, who has a savings account in any bank, can use a third party ATM for free, five times in a month, after which a nominal amount will be charged.
