Bank will become bankrupt, if banks have some brain they should stop this, the money people draw and keep can be rotated by bank for business, are economic people are brainless?
Re: It's loss for Banker because people withdraw more and keep
by SundaraRajan K on Nov 13, 2014 05:24 PM
Daily visit your branch to update your passbook, withdraw money and ask for balance. Bank will realise their blunder in levying ATM charges.
Re: Re: It's loss for Banker because people withdraw more and kee
by Kailash Ved on Nov 14, 2014 06:48 PM
Then Banks will step in for charging these operations too. There are no intentions of reverse cycle.
if it is not free, i shall open many a/cs ATMs of which banks are nearby.....it will increase only card pollution. every now and then i shall loose those and apply for new ones.
Re: ATM
by s p on Nov 13, 2014 08:59 PM
You are missing the basic message,"the banks will be earning from this fear/misadventure by way of yearly rent plus taxes". It is true that the more cards u have there will be possibility of more losses to your pocket only.
then what's wrong with Indicash!!! all bank can depend on them.....they need not to set up their own ATM.....it should not be in their core business any more.
5 transactions on ATMs of own bank plus 3 on other bank ATMs make it an average of 2 per week .How much money do you have in your account to withdraw more than twice a week? If you were to visit the bank and get cash, will you go there even once a week ?
Also, remember ATM is a convenience which enables you to get money at odd hours. It is a service offered by the banks which has costs involved, which need to be somehow met. If it is no directly charged, they will do it indirectly : by making some impact on interests of deposits and loans.
RBI should impose penalties on Banks whose ATM's are not working. Public should crowd the cash counters. First they say use ATM dont crowd cash counters and now they set new rules to milk customers. The RBI Governor does not know Indian economics. That is the pity.
Re: ATM USAGE
by Moushumi Saigal on Nov 13, 2014 11:30 AM
Absolutely Right. What about Transaction on ATM Which Fail ? Many a Time you go to Withdraw Money , The Cash is Not Dispensed & That Transaction gets Counted, What a Bizzare Scenerio & The Customer has to Pay for it, Say out of 7 Transactions in a Month 3 Failed & Still One has to Shell out Money for 2 Extra Transactions for Effectively using ATM only for Successful use of Only 4 Transactions ? Mr Rajan Are you Listening, You are Promoting Withdrawl of More Cash Thus Storing More Cash & Carrying More Cash With You & Thus Putting Ones Life in Danger of Theft & Life Mr Rajan You Might Be Highly Decorated Economist , But Please Be Realistic of Ground Realities of INDIA & Dont Put Life & Savings of Fellow Indian Citizens in Danger, May Better Sense Prevail
