InvestorQ : Is the three-free-ATM transactions rule followed across India?
Neha Samdani made post

Is the three-free-ATM transactions rule followed across India?

Answer
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Manisha Mehta answered.
1 year ago


No.

But before I get to answering your question, let’s first understand what this rule is. In August 2014, the Reserve Bank of India rolled out a policy that stated that banks can offer a certain number of transactions free of charge. Thus, banks were instructed to not charge customers for a certain number of transactions.

According to this policy, a bank’s customer would be eligible for three free transactions instead of the five transactions allowed previously.

However, this rule is applicable only in metro cities- Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai. The limit for other cities continues to be five per month.