Centralizing All Atm's In India

[varalu 0]

IMPORTANT: This information is specific to INDIA. If you are from a different country, this might not be of use to you, but you can always comment on it.

 

From April 1 2009, you will be able to withdraw cash/ do balance inquiry etc at any banks ATM in India for free. Please check the below link.

 

http://forums.xisto.com/no_longer_exists/

 

Have confirmed this info by calling my banks customer care. At last, there will be less waiting time outside specific bank ATM's.

This has already been the case in countries such as UK, Germany and France. Bank customers have access to all ATMs in the country, free of charge except when cash is withdrawn from white label ATMs or from ATMs managed by non-bank entities like brokers or private entities.

[xpress 0]

Yes, herad this in news. RBI has taken a great decision on centralizing these ATMs. This is one of the greatest advancements in our banking. This will be very helpful to us. In most of our cities there'll be a big queue for SBI atm's. I have had annoying experiences with them. Some times I've to wait for half an hour before an ATM to withdraw amount. What is the use with an ATM if we have to wait for long time like that. With this decision a lot of our time will be saved.This decision will help villages as well. I've seen many villages with only one ATM (most probably SBI). Now all other cards will work on this. Otherwise we've to pay a minimum of 50Rs for transaction from a different ATM. Thanks RBI for a great decision.

Edited March 30, 2009 by xpress (see edit history)

[longtimeago 0]

This is one of the excellent step taken by the government, so long this was a maijor issue. If you hold account in one particular bank, and if you use the same card in another bank ATM , the Charges was 27 INR , which is really quite expensive. This particular step taken by the RBI will benifit everyone including students.But now i have a doubt ! how is this simply possible, lets suppose that i have an ATM which is of Syndicate bank near my college and every one in my college uses ICICI account and ICICI dosent have an ATM machine, so every one uses Syndicate ATM machine to draw money, and im sure there will be a point daily where syndicate users may have to go out of cash in the ATM because it has been used heavily by Non Syndicate users. If such a case prevails in every area, then what will be done by the banks ??It is something like , one bank runs an ATM service for another.How will this be handled ??