Monday, August 08, 2011

ATM Service by banks in small cities

RBI has given guidelines on ATM Service charges if you use other bank's ATM for your Debit Card. Here is the guideline:

Effective 1st July, 2011 RBI has mandated the following changes to:


SAVING ACCOUNT - The permitted 5 free transactions per month at other Bank ATMs will include Financial as well as Non-Financial transactions.

Charges for transactions over the free ones:

Rs. 20.00/- (including taxes) per Financial transaction – i.e. Cash Withdrawals

Rs. 8.50/- (excluding taxes) per Non-Financial transaction – i.e. Balance Inquiry, Pin Change & Mini Statement.

And all the transactions on your bank's ATM Machine will be free of cost.

But here is one question which RBI has not directed i.e. If a Bank's ATM is not working then what customer will do? OK, customer can go to other bank's ATM. But in small cities the ATMs of Banks remain down for more than 8-10 days every month. In such case, 5 free transaction with other bank ATM is not very less?

If a bank is charging Rs. 110 per Debit card as annual maintenance charge and is not able to maintain around 90% of ATM uptime then shouldn't they pay any penalty? If a customer is not able to maintain their QAB due to any reason than the Banks immediately charge Rs. 750 plus taxes every quarter but if they are not able to operate ATM Machines smoothly then they don't face any charges. When RBI will make Banking easy for customers?

The truth of my city, Shahjahanpur, is that many Bank ATMs remain out of service continuously for more than couple of days. How anyone is supposed to withdraw money if they want it urgently? Also there are times during festivals that ATM Machines don't have cash to dispense.

There should be some monitoring by RBI or some guidelines on responsibility of Banks in operation of ATM Machine as well.

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