Most of the banks offer their customers 5 free ATM transactions
Banking is one of the important needs of today. In such a situation, there are some special rules regarding the transactions done by ATMs in banks. Most of the banks offer 5 times free ATM transactions to their customers. This rule is applicable to the general city, while in the metro city this limit is 3 times. But Ujjivan Small Finance Bank offers unlimited free ATM transactions to its customers. The bank had recently announced this facility on World Senior Citizens Day.
As per the information provided by Ujjivan Small Finance Bank, the customer can do unlimited transactions both at the bank branch and at the ATM. The customer can withdraw money from the bank or ATM and make deposits without any charges. The bank does not charge any fee from its customers for cash transactions or non-cash transactions from ATMs. Let us tell you that the customers are very happy with the initiative of the bank. The bank shared the information on its official Twitter handle, in response to which many customers have welcomed the initiative of the bank. A customer wrote that this is a commendable step by the bank towards promoting digital banking.
Let us tell you that in June, RBI changed the rules for withdrawing cash from ATMs. RBI has approved to increase the interchange fee from 15 to 17 for financial transactions and from 5 to 6 for non-financial transactions. These have come into effect from 1 August 2021. Hence, if you are a customer of Ujjivan Small Finance Bank, no limit on cash or non-cash transactions from ATMs of the same bank will be applicable to you. The bank has given the facility of unlimited transactions to its customers. That is, no matter how many times you withdraw or transfer cash or make inquiries, you will not be charged for it.