Annual ATM Card Fee Waived for Senior Citizens and Physically Disabled: RBI

Good news for all senior citizens! The banking regulator RBI wants banks to see if senior citizens and physically handicapped persons can be allowed unlimited number of ATM transactions at any bank ATM. RBI also wants the annual ATM card fee waived for customers from this category.

An official from a bank said that since senior citizens and physically disabled persons will use ATMs only for genuine purposes, banks could allow them to use any bank ATM for any number of times.

Currently, banks are allowing their customers to use other bank ATMs without any charge five times a month. Also, some banks charge Rs.100-500 as annual ATM card fee. An official from a bank said that they are willing to waive the annual ATM card fee to encourage senior citizens and handicapped persons to move to alternative bank ATM.

The RBI also wants banks to look into the possibility of providing doorstep banking-service to the physically disabled. Providing this service could be a challenge, however, this can be done once banks have sufficient number of Business Correspondents.

VN:F [1.9.18_1163]
Rating: 0.0/5 (0 votes cast)

2 comments on “Annual ATM Card Fee Waived for Senior Citizens and Physically Disabled: RBI”


  1. chander mohan magu says:

    Good news for senior citizens. This should be implimented immeadiately in all banks.


  2. RN SIRCAR says:

    Good news for senior citizens. Please implement this for all banks.

Leave a comment

*

SEARCH

Pages