Beginning from November 1, 2014, you must limit the use of transactions like cash withdrawal, getting statement etc., from an ATM machine or else you may have to end-up paying charges.

Here are some of the guidelines that come into effect from November 1, 2014.

1) ATM usage of bank branch where you have an account

If you have an account at State Bank of India, you can use the Bank's ATM across the country to withdraw money only up to five times a month. However, this is restricted the six main metros in the country including Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad.

2) ATM usage at other bank ATMs

You can use the ATMs of other bank branches other than your own only for a maximum of three times a month, beyond which you have to bear the charges. For example, if you have an account at State Bank of India, you can withdraw from other banks only up to three times a month.

3) Charges of Rs 20 to be levied

There will be a charge of Rs 20 that will be levied on every transaction that is above those mentioned in points 1 and 2.

What you need to do?

a) Keep adequate cash at home

To avoid being charged on ATM transactions, make sure you keep adequate cash at home. This does not mean you keep large amounts of cash, since you would lose interest amounts by keeping large amounts at home. So, keep adequate amounts.

b) Try and keep a record of transactions

Try and remember the number of transactions that you have undertaken during the month. If you have completed five transactions at your own bank's ATM, use the three more that our available at other bank ATMs.

c) Try and use online facility to view balance

Use the online facility to see online balance and do not rush to the ATM to gather a statement.

d) Use the SMS facility to check on balances

e) Use multiple accounts

If you have two accounts make sure that you use both the accounts, so you can increase the number of transactions.

Conclusion

It's best to avoid using the ATM machines frequently with effect from November 1, 2014. Make sure that you follow the steps mentioned above, so as to reduce your transactions and unnecessarily incur charges.

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