ATM cash withdrawal problems!

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Well, they have restricted it to 5 transactions in a month. Also, we need to consider its a boon for people whose nearest own bank ATM (non-popular banks) could be a few km away. I remember having to travel 2.5 km to withdraw from a savings back ATM account. But, yes, I agree to the point that this has causes in banks spending less on getting new ATMs.

i can safely say that the fee on transaction from a third party atm would probably be lower than the fuel expense traveling 5KM to fetch the money? 🙂

my atm card in stanchart originally came with the privilege of unlimited transactions on third party ATMs. this was before the new regulations. yearly charges are pretty high and i have been considering switching to the cheaper atm card that does not look as nice but costs a whole lot less. 😕
 
You are talking about now. I am talking about olden days, 2003/04 & maybe older - and if I am not wrong the charges were more than what is charged now. And cycling had no fuel charges 😛
 
If I remember correctly, the nearest ATM was 1 KM away in those days and it was ICICI.And travelling additional 1-odd Km to save even 20-30 rupees sort of made sense (When you are not earning)
 
SBI ATM working itself is a big miracle. They have the largest network of non functional ATMs worldwide.While on this topic, I was informed by the HDFC ATM that as per a RBI mandate (don't know which), the money withdrawn will now NOT be pulled back after a timeout. It is therefore the withdrawer's responsibility to collect the cash, and the bank is not responsible whatsoever.
 
Earlier, when you withdraw money and the cash comes out of the dispenser, if it wasn't taken out within a particular duration (I think a minute or something like that), the money would go back into the ATM and you would have to call the bank to inform them about this.Now this time restriction thing has been done away with. So if someone doesn't collect the cash from the dispenser (due to whatever reason), the cash will NOT go back into the ATM and instead would continue to be outside. Subsequently, you won't be able to claim this amount as 'not received'
 
I never had problem with SBI ATM but i always avoid those machines who eat card instead of swapping. Once corp bank ATM eat my card and didn't return and I had to waste entire day to get it back. I never use such machines specifically when roaming in other cities. As far as 5 transaction is concern I guess I am doing more than that without any problem. Its salary account and I don't know it has unlimited transaction facility or not.. 😀
 
My dad also never puts his card in a swallowing type ATM after twice suffering the same fate as you.
 
i donno why .......i have once (1st time) went to hdfc bank atm.....it ****ing swallowed my card, and i was ****ing worried for that point in time , unable to understand what the hell happened. never went there after that ever.:rofl:
 
some of the atm machines operated by kotak mahindra does not even have the mechanism for pulling back money. they basically drop the money in a bucket below the dispenser. i once forgot to pick my money at this atm because i was sort of distracted. machine did not beep to take out the money because it was lying in the small holder. i just transacted, picked my card and went out. realized 30 minutes later that i had not picked up the cash 😀
 
so it is 100% that u didnt get the money 30 minutes later............right?? how much man??😀
 
some of the atm machines operated by kotak mahindra does not even have the mechanism for pulling back money. they basically drop the money in a bucket below the dispenser.

i once forgot to pick my money at this atm because i was sort of distracted. machine did not beep to take out the money because it was lying in the small holder. i just transacted, picked my card and went out. realized 30 minutes later that i had not picked up the cash 😀

There were lots of frauds committed when the ATMs were retracting cash after sometime. People used to pull out majority of notes, leaving behind a few. ATMs used to retract and can't count them. A lot of people got the entire transaction amount credited. ATMs don't retract for this particular reason.
 

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