Ways to avoid ATM charges | Fusion - WeRIndia

Ways to avoid ATM charges

Ways to avoid ATM charges

The RBI’s recent guidelines have given banks permission to charge you if you withdraw more than a certain number of times from your ATM. This move is done by RBI to reduce cash transactions and maintain transparency in financial transactions. Here are some methods that help to avoid ATM charges.

Keep some cash on hand

At the start of every month, make sure you have calculated well about how much cash you need. Make sure you cash in some extra money than what you have calculated.

Don’t over withdraw either

Avoid keeping abnormally high amounts in cash. Cash only a bit extra than what you need. Cashing too much can cause you to lose interest generated in banks.

Use your cards

Try to use your debit cards whenever you can. Many shops have card swiping machines. Try to pay with the card whenever you can and avoid paying cash. You will also get reward points for using cards.

Withdraw from same bank

Make use of your own bank’s ATM even though it is a bit far. You can use ATM locator facility provided by most banks.

Register yourself at bank

To avail phone banking, SMS facility, and internet banking you first need to register with your bank by providing correct mail ID and contact number. Doing so will help you check balances without having to go to the ATM machine.

Image by mohamed Hassan from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/fr/illustrations/atm-vecteur-bancaires-banque-2384676/

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