ATMs (2024)

Additional questions by RBI?

Additional questions by RBI?

What is an Automated Teller Machine (ATM)?

An Automated Teller Machine is a computerised machine that offers bank customers the ability to access their accounts to withdraw cash and carry out other financial transactions without visiting a bank branch

What type of cards can I use at an ATM?

You can use any ATM, Debit, Credit or Prepaid Card that permits cash withdrawals at an ATM. You can also use these cards for various other transactions

What are the facilities offered by at ATMs?

ATMs don’t only help to dispense cash. You can avail of various other services:

• Get account information
• Pay bills
• Mobile Top up
• Get mini-statements
• Enquire about loans

The services may vary from ATM to ATM or may depend on the capacity of the machine to provide such services.

How can you use an ATM?

You have to first insert your card in the slot provided and then enter your ATM PIN. After that you can select the respective options to perform whatever transactions you want

Can these cards be used at any bank ATM in the country?

Yes, the cards issued by banks in India can be used at any bank ATM within India.

What is a Personal Identification Number (PIN)?

A Personal Identification Number (PIN) is a unique numeric password you need to use an ATM. Your PIN is either mailed to your address or handed over to you by the bank when you are issued your card. You should reset your PIN at the ATM once you receive it. For security reasons, most banks force you to change your PIN when you first use your card

Remember never to write your PI N on your card, card holder or anywhere that makes it easy for someone to read it. If someone knows your PIN your card can easily be misused if it is lost or stolen.

What should I do if I forget my PIN or my card gets stuck in an ATM machine?

If this happens you should contact your card issuing bank branch immediately and apply for its retrieval or for a new card.

What should I do if I lose my card?

You should contact your card issuing bank immediately to block your card

Is there any minimum and maximum cash withdrawal limit per day?

Yes, each bank sets a limit for cash withdrawals. The cash withdrawal limit for use at the ATM of the issuing bank is set by the bank when the card is issued. The maximum withdrawal limit is displayed at the respective ATM locations.

For cash withdrawals at other bank’s ATMs, a maximum limit of Rs 10,000 per transaction has been decided upon. This information is displayed at the ATM location itself.

• Accounts with vintage of 6 months & below will have ATM cash withdrawal limit of INR 50,000 per day.
• Accounts with vintage of more than 6 months will have a ATM cash withdrawal limit of INR 2 Lakh per day
• Monthly limit of INR 10 Lakhs would be applicable for all accounts irrespective of vintage

Do banks levy any service charge for use of other bank’s ATMs?

As advised by the RBI circular (Usage of ATMs - Rationalisation of number of free transactions) dated 14th August 2014, the banks can charge customers beyond three transactions on Other Bank ATMs at Metro locations & beyond five transactions on Other Bank ATMs at Non Metro locations. The cap on service charge that can be levied by banks is Rs 21 plus applicable taxes per transaction.

What should I do if during the cash withdrawal process, I don’t receive cash from the ATM but my account is still debited for the amount?

You can lodge a complaint with the card issuing bank. This is applicable even if the transaction was carried out at another bank’s ATM.

What is the maximum number of days that a bank will require to re-credit the account for wrong debits?

In such a case you may lodge a complaint with the local Banking Ombudsman, if the bank does not respond.