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ATMs transactions to be operational from today –5 things you must keep in mind

ATMs transactions to be operational from today –5 things you must keep in mind

Mangalore Today News Network

New Delhi, Nov 11, 2016: Declaring a "decisive" war against black money and corruption, Prime Minister Narendra Modi recently announced that high denomination notes of Rs 500 and Rs 1000 will no longer be legal tender.

atm Machine

All Automatic Teller Machines (ATM), Cash Deposit Machines, Cash Recyclers and any other machine used for receipt and payment of cash were shut between 9th and 10th November, 2016.

However, normal operations of ATMs will start from today. If you are heading towards ATM transactions, here are five things which you must keep in mind.

1. Withdrawal from ATM shall be restricted to Rs 2,000 per day per card up to 18th November, 2016.

2. The limit shall be raised to Rs 4,000 per day per card from 19th November, 2016.

3. If you want to withdraw more money despite the cap on per card transaction, you can use multiple cards. The more cards you have, the more you will be able to take out from ATM.

4. Be mindful of the transaction charges! Banks charge you for transactions made after five times.

5. Though RBI has told banks to not charge extra for the transactions, keep a tab on your home ATM and non-home ATM transactions.

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Comments on this Article
Arun Kumar, Kulshekhar Fri, November-11-2016, 1:08
It is the total end to Fake notes.
Preetham S, Karwar Fri, November-11-2016, 1:07
Most of them are short of cash as they have lot of Rs.500 and 1000 which is not accepted by anyone other than Banks.
Qurashi, Mumbai Fri, November-11-2016, 1:04
People are eagerly waiting for ATM’s to get operational, as they have become addicted to it for withdrawals of money.
Rafique Hussain, Udupi Fri, November-11-2016, 12:54
People are just waiting to get rid off their old.
Yathish Rao, Goa Fri, November-11-2016, 12:49
Think the cash is not sufficient to deposit in all machines
Wilfred Pinto, kanaghad Fri, November-11-2016, 12:47
The ATM’ s are not yet open for public transactions . The people are waiting as some are not comfortable going to bank branches
Ananad V Bolar, Mangluru Thu, November-10-2016, 10:57
This has become ahead charge to common as most of them do not prefer visiting the Banks for transactions thees days
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