As per RBI’s circular, with effect from April 1st, 2009, you can use any ATM in India for money withdrawal, account balance, or printing mini statement for FREE irrespective of your card issuing bank. RBI issued instructions at the beginning of this year to all the banks not to levy more than Rs.20 per transaction done by other bank’s account holder. For example, if you are an ICICI Bank account holder and if you are using ICICI ATM card to withdraw money from an SBI ATM, you will be charged a maximum of Rs.20 per transaction. This will be in effect till March 31, 2009 and from April 1st, irrespective of your bank account, you can use your ATM card to do the above transactions at any bank’s ATM for free.
I am really happy to see this. Before this, if I am going to a new place, carrying all my bank cards was necessary because I would not know which ATM I can find first. As the charges have come down to Rs. 20 lately, I have been using other bank’s ATMs frequently because I am not worried about Rs.20 as I can find other bank’s ATMs in my colony in just few steps. Now, even this Rs. 20 per transaction charge is going to be taken off from day after tomorrow and I can simply walk into any ATM and withdraw the money 🙂