Has any of the member faced any issue of swipting the ATM card 2-3 times to get the 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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I Naved faced such situation. Sent from my iPhone > On 06-May-2016, at 7:30 PM, S K Virmani wrote: > > > Find this email inappropriate - Unsubscribe > LocalCircles is now available on iOS and Android. > > S K Virmani > S K Virmani posted a message in "Sharing Consumer Experiences in Delhi/NCR". > Has any of the member faced any issue of swipting the ATM card 2-3 times to get the 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? > Reply Reply to this email to post a comment. > > If you believe that this post is inappropriate for this Circle, report it. > This email was sent to goelvk1947@yahoo.co.in. If you don't want to receive emails from LocalCircles in future, please Unsubscribe. > LocalCircles, Inc., 1556 Halford Ave., Suite 290, Santa Clara, CA USA 95051. > 107 Urbtech Matrix Tower, Plot No. B-4, Sector - 132, Noida, India, 201304.Privacy Policy. more
May 07
@Mr. Asif Khan, No bank is giving free service. They are making huge profits out of our money. Please look into their balance sheets. They are giving you 4& interest on SB a/c or even 7-8% on FDs and are giving loan between 12-18%. Neither they are for charity nor do we expect. So Secondly we are not asking any service free of cost. What we are objecting is unethical income. SBI is charging annual maintenance fee for ATM cars. Now when the card goes defective they charge another fee towards replacement. Thirdly ATM has not imposed any additional cost. It has dispensed away with manual work on which Bank was also incurring cost. This cost has been saved by the banks. Bank should also own the responsibilities towards their deficiency in service in handling ATMs. Non-availability of cash in the machine and defective machine compels account holder to go to other Bank ATMs. Why any account holder should be penalised for that deficiency. I have already brought out just on SMS service, SBI is making unethical income of more than 400 crores a year. Is SMS service a core business area for SBI. This is not peculiar to SBI, but all other banks are no exception. Referring back to the post, I wanted to have specific views of Axis Bank w.r.t their ATMs having denomination of Rs. 100/- and the consumer who complained has observed not once but several times. If that is the business practice I proposed to take up matter with Axis Bank and RBI. more
May 07
I m not in favour of a bank and also an end customer, but feel we have high expectations from bank. At the end they are providing free service to keep our money safe which would be vulnerable if kept at home. Bank invest heavily on safety infrastructure therefore not all services can be free. They also give return on saving as interest. Outside India, the bank would charge a monthly fee just to maintain a saving account because interest rates are very low. So in India we are still better where no charges are applied for keeping an saving account. more
May 07
I do not understand why the ATM should not dispense Rs.5700/- in denominations of 500+100+100. ATM may not dispense 565/-, it is okay. Yes, at lease home bank ATM must not make an ATM dispensing charges. After all, their interest income on investments of deposits is quite substantial. more
May 07
