Has any of the member faced any issue of swiping the ATM card 2-3 times to get the desired cash from ATMs. A complaint has been heard against Axis Bank alleging adapting unethical business practices by putting currency of denomination of Rs. 100/- so that consumers swipe the cards as many times to draw the cash to meet his requirement of as low as even Rs. 10,000/-. This may be possible as there is a maximum of 5 free ATM transactions in own bank ATMs beyond which payment of Rs. 20/- per transaction is charged. Has any of the member faced similar problem? more
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Mar 05
@Shri Ram Ji, The number of free transactions in other Bank ATMs is 3 and not 2 as stated by you. In case you feel that the Bank is charging beyond two transaction, please immediately report the matter and seek for all refunds. more
May 09
Mr Ashok kumar is very right. Banks are exploiting customers through ATM. They restrict the amount and number of withdrawals through other bank ATMs and for more than 2 withdrawals they charge the customers. Indian Bank has only very ATMs and most of them would not work at all most of the time. When you use other Bank ATMs for withdrawals, Indian Bank charge Rs.20 per withdrawal. If you go to Indian Bank counter for withdrawl it will take more than half day to get payment. In this way the Banks exploit innocent customers and hand over crores to corporates like Kingfisher at their residence/office and later on call it as bad loans. This is happening with the full knowledge of RBI which is reducing interest rates on deposits drastically to facilitate corporate loans at a throw away price. RBI is using Public sector banks for the enrichment of corporates. more
May 09
It happens with most banks ATMs. I have used SBI, Union Bank, Andhra Bank. They all permit only Rs 10,000/- per transaction. Only own bank has permitted transactions worth Rs 25000/- in one go. It never occurred to me that this is to exploit the innocent customers. RBI should come down heavily. By the way this is not a ATM fault. This is designed to be this way in the programming and the bank employees know it. I had been in fact informed by the bank employee that I should withdraw only up to rs 10,000 in one transaction. more
May 09
