Scribd Logo
Upload

Welcome to Scribd!

  • 6 views

    ATMtransactions

    Uploaded by

    Rahul Sharma
    The Reserve Bank of India has made changes to cash withdrawal policies through ATMs. Banks must now resolve customer complaints about failed ATM transactions within 7 working days, or pay compensation of Rs. 100 per day. Customers have 30 days to lodge complaints. Additionally, Bank of India customers will now be charged fees for transactions at other bank ATMs, though the first 5 transactions per month are free. Fees vary based on the ATM network but are Rs. 16-20 for cash withdrawals and Rs. 10-25 for non-financial transactions like balances or PIN changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    ATMtransactions

    Uploaded by

    Rahul Sharma
    6 views2 pages
    The Reserve Bank of India has made changes to cash withdrawal policies through ATMs. Banks must now resolve customer complaints about failed ATM transactions within 7 working days, or pay compensation of Rs. 100 per day. Customers have 30 days to lodge complaints. Additionally, Bank of India customers will now be charged fees for transactions at other bank ATMs, though the first 5 transactions per month are free. Fees vary based on the ATM network but are Rs. 16-20 for cash withdrawals and Rs. 10-25 for non-financial transactions like balances or PIN changes.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The Reserve Bank of India has made changes to cash withdrawal policies through ATMs. Banks must now resolve customer complaints about failed ATM transactions within 7 working days, or pay compensation of Rs. 100 per day. Customers have 30 days to lodge complaints. Additionally, Bank of India customers will now be charged fees for transactions at other bank ATMs, though the first 5 transactions per month are free. Fees vary based on the ATM network but are Rs. 16-20 for cash withdrawals and Rs. 10-25 for non-financial transactions like balances or PIN changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    6 views2 pages

    ATMtransactions

    Uploaded by

    Rahul Sharma
    The Reserve Bank of India has made changes to cash withdrawal policies through ATMs. Banks must now resolve customer complaints about failed ATM transactions within 7 working days, or pay compensation of Rs. 100 per day. Customers have 30 days to lodge complaints. Additionally, Bank of India customers will now be charged fees for transactions at other bank ATMs, though the first 5 transactions per month are free. Fees vary based on the ATM network but are Rs. 16-20 for cash withdrawals and Rs. 10-25 for non-financial transactions like balances or PIN changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    NOTICE

    IN VIEW OF THE INSTRUCTIONS FROM RESERVE BANK OF INDIA FOLLOWING CHANGES ARE MADE FOR CASH WITHDRAWALS THROUGH ATMS As per the directive of the RBI, with effect from 1st July 2011, time limit for resolution of customer complaints regarding failed ATM transactions shall stand reduced from 12 working days to 7 working days from the date of lodgment of claim by customer to their bank. Failure to re-credit the customers account within 7 working days of receipt of the complaint shall entail payment of compensation to the customer @ Rs. 100/- per day from the customers bank. The customer is entitled to receive such compensation for delay, only if a claim is lodged with the customers bank within 30 days of the date of the transaction. Further, with effect from 01st July 2011, customer of Bank of India will be charged transaction fee for any ATM transactions (both financial and non financial transactions) from other Bank ATMs. However, Saving Bank account holders will not be charged for the first five transactions (inclusive of financial and non financial transactions) in a calendar month. Non financial transactions include all activities other than cash withdrawal (including balance enquiry, mini statement, pin change etc.). The charges for Financial Transactions is Rs. 20/- for transactions done from Bancs, NFS ,VISA and MasterCard affiliated ATMs. The charges for financial transactions from CashTree affiliated ATMs is Rs. 16/-. The charges for Balance Enquiry, Pin Change and Mini Statement Transactions from NFS affiliated ATMs will be Rs. 10/-. The charges for Balance Enquiry transactions from Bancs, VISA and MasterCard affiliated ATMs will also be Rs.10/-. THE REVISED CHARGES PAYABLE BY CUSTOMERS (FOR USING OTHER BANKS NETWORK) UNDER THE VARIOUS NETWORKS W.E.F 1.7.2011ARE AS FOLLOWS: REVISED NETWORK CASH WITHDRAWAL RS. 16/RS. 20/RS. 20/RS. 20/BALANCE INQUIRY

    CASH TREE BANCS STATE BANK OF INDIA NATIONAL FINANCIAL SWITCH *

    NIL Rs.10/Rs.10/Rs.10/-

    VISA-NATIONAL VISA-INTERNATIONAL MasterCard-National MasterCard-International

    RS. 20/RS. 125/Rs. 20/Rs. 125/-

    Rs.10/RS. 15/Rs.10/Rs. 25/-

    NOTE * :PIN CHANGE, Mini statement charges for NFS is RS 10/-

    You might also like