The limit has been fixed by the bank regarding cash withdrawal from ATM. But, there are many transactions that you can do through ATMs for free and this will give you comfort from going to the bank.
A limit is set by the bank on withdrawal of money from ATM, that is, you can do free transactions from ATM only up to a limit. After this, money has to be paid for every transaction. Like 3 or 5 free transactions can be done in most banks. If simply put, you can withdraw money from ATM only 3 or 5 times for free, after that you have to pay a charge for withdrawing money. But, there are many transactions which are not counted as free transactions.
You can do this type of transaction several times in a month and the bank does not charge you any fee for this. The special thing is that people often get this work done in a bank branch, but you can also do it from an ATM. In such a situation, know what are those works, which can be done through ATM and you do not have to pay any fee for this work. Know about these free ATM transactions…
You can do this work for free
According to a report by Money9, if you apply for a check book without an ATM, then you can do this work for free from an ATM. For this you do not need to fill the transaction details and visit any bank branch. Also, this transaction will not be adjusted in the free transaction.
- Along with this, you can check balance from ATM without paying any fees.
- You can pay tax payment from ATM and no fee will be charged by the bank for this. Along with this, you can also pay many other bills through ATM.
- You can also transfer funds from ATM and this also does not adjust in free transactions.
You just have to keep in mind the limit on the transaction of withdrawing money.
Money not withdrawn due to technical problem?
Often there is a technical problem while withdrawing money from ATM and due to this your transaction is not completed. These transactions fail due to hardware, software and communication issues etc. Your limit is not affected even on this transaction and it is kept outside the limit of free transactions. This means that the number of free transactions that the customer has got from the bank cannot be less than the fault of the bank. At the same time, it often happens that the account holder went to the ATM for cash withdrawal and there is no cash in the machine and the transaction fails. This is also not counted in the free transaction.
How much is the limit?
If we talk about the limit of withdrawing money from ATM, then banks give a discount to the account holders on the transaction from the ATM. This exemption varies in urban, rural and metro areas. Some bank gives five ATM transactions free of cost to its account holders and some seven. As per Reserve Bank of India guidelines, if you have a savings account, you get 3 free transactions in a calendar month in 6 metros (Mumbai, Delhi, Chennai, Kolkata, Hyderabad and Bangalore) and 5 at other centers.
