1. Lakshmi Vilas Bank says no cap on ATM use for its debit card holders

Lakshmi Vilas Bank says no cap on ATM use for its debit card holders

Private sector Lakshmi Vilas Bank said on Monday that its debit card holders can use its own ATM network free of cost...

By: | Chennai | Published: December 2, 2014 9:52 AM
The bank would also allow its customers to do up to five ATM transactions (inclusive of both financial and non-financial) in a month at other bank ATMs in other locations (ie. other than the six metros) without any charge. (Reuters)

The bank would also allow its customers to do up to five ATM transactions in a month at other bank ATMs in other locations without any charge. (Reuters)

Private sector Lakshmi Vilas Bank said on Monday that its debit card holders can use its own ATM network free of cost without any cap on the number of such transactions.

“The bank would also allow its customers to do up to five ATM transactions (inclusive of both financial and non-financial) in a month at other bank ATMs in other locations (ie. other than the six metros) without any charge. Transactions up to three in a month at other bank metro ATMs would be cost free,” Lakshmi Vilas Bank said in a statement.

The Reserve Bank of India had allowed banks to cap the the number of free transactions in bank ATMs in metro cities – New Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore– at five in a month.

“For customers having account in Prime savings and Titanium Savings products with an average minimum monthly balance of Rs 1 lakh, Lakshmi Vilas Bank would not charge any transaction fee for up to five ATM transactions at other banks ATMs, including the ATMs at six Metro locations,” the private lender said.

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