ATM users in India can use any ATM’s of their choice to withdraw money at no extra cost from April 1. At present, banks charge Rs 20 per transaction when a customer uses the Automated Teller Machine of any bank other than the one in which he/she has an account with.
RBI has directed all banks to stop any fee for cash withdrawals using ATM and debit cards issued by other banks. This direction of RBI is going to be effective from April 01, 2009. Any way this is really good move by RBI to encourage people to use other bank’s ATMs.
However, banks can still charge extra for services like cash withdrawal with the use of credit cards and at ATMs located outside India.
Currently SBI, ICICI, AXIS, HDFC Bank and Corporation Bank have the largest ATM network in the country.