ATM transaction is going to costly: Rs. 15 per transaction ?

I use Debit Card daily, I hope so you do... if yes then read on ..


Lately, this news came up that every bank is now going to charge minimum Rs. 99 every year for providing a basic card. No problem as for few I pay 10 times for per annum. But the thing which I do not like is that now there shall be only 6 free atm transaction per month and after that you will be charged Rs. 15 per transaction.

Also banks are thinking to increase fine if you are not able to maintain minimum balance in your account.

I will tomorrow confirm with my banks that what are their policies for atm transaction charges and minimum balance maintenance.

Now I am thinking to check all my bank accounts and will close those who are just for fancy .

But are they fool or what, I don't think every bank is going to charge Rs. 15 per transaction after 6 transaction at atm. That is going to hurt lot of customer as well bank too, will increase load in banks as everyone will then want to save money by not getting money from ATM daily.

BTW, banks gives excuse that this way they will encourage online shopping as using card online is free. ..
Anyone favour ?

Via : IBN live