If you are frequent visitor to ATM, then read this..

Free ATM usage from April 2009 Recently RBI gave a statement that ATM usage charges across all banks will be free from April 2009. The customers feel happy about this because they are paying money on every transaction done through other banks ATMs ranging from Rs.10 to Rs.60, now they can save all those money. The banks are not happy because they were earning fee commission every time a non-customer used their ATMs and there will be drain on their profits. During the period when there was craze to open ATMs, Some of the banks joined hands to provide ATM services at reduced costs. Some smaller banks, to retain their customers joined hands with banks having wide ATM base. Some banks are refunding the charges incurred by their customers for using their banks ATM card at other banks ( only if they maintain some balance as stipulated by the bank) From here onwards banks will think twice before opening ATMs because of the costs associated with it. (rent, furnishing, power, machine, A.C., guard, security and many) The banks may force the customers to use ATMs for cash withdrawal. The charges for ATM card issue and annual charges may go up substantially. The other bank may not allow next banks customer to use his ATM. [ATM,Bank,RBI]