Charges on ATM Transactions
Dear Sir,
The physical transaction of money in the banks is always expensive than electronic dispensing of money.
Each physical transaction has direct & indirect expenses of salary to more No.s of staffs, rentals on building, Electrical expenditures, expensive physical transaction due delay in dispensing, people will be loosing their productive time loses, The cumulative of delayed financial transaction has huge indirect loses etc.
Where as ATM trasaction is less expensives , more productive and convenience to all age group of peoples.
In our democratic country, the financial institutions alway waiting for an created oppertunities to exploit monitory benifit by conveying a tricky projections to government administrators to gain their targets of benifits.
It is very much true that the physical transaction(thro by cheques, withdraw is alway more expensives) higher than ATM transactions.
I request Shri.Modi Ji not to bend for financial institutions false claims.
In my day to day experiences, i found that there are so many under operative many ATMs and under repairs ATMs are there in single places / areas. Which causes more expenses due to providing security system, electricicity expenses, Electronic gatgets maintenances and AMC loads. There are many needy area is not having adequate ATMs. These under operative ATMs is indirect burdons on customers only.
Here, I would like to suggest to the present government that "All ATM operation shall come under one corporation under RBI throught India" and the total expenses shall be shared by all banks in proportion to their money transaction volume X Nos. Of transaction.
And also the following adequate measure shall be taken care by the corporation,
1. The under operative ATMs shall be relocated in needy places,
2. Online maintenance with online intractive maintenance with Corporation & AMC agency shall be introduced to speedy rectification of ATMs shutdowns.
3. Money availability status & recharging indication programme shall be automatted. In-order to avoid delay of functioning of ATM.
4. By constituting ATM corporation under RBI, more expenses can be cut down from losses from inoperative expenses, electricity consumption can be reduced, the total annual expenses towards UPS services, Electronic gatgets maintenances, security systems expenses and other indirective expenses.
Think possitively & implement by bringing changes under your able guidences Mr. Modi Sir. It is posible with like you clean handy honesty personality only. please go head along with youngesters innovative cooperations for sucesses.
jai Hind. more
The physical transaction of money in the banks is always expensive than electronic dispensing of money.
Each physical transaction has direct & indirect expenses of salary to more No.s of staffs, rentals on building, Electrical expenditures, expensive physical transaction due delay in dispensing, people will be loosing their productive time loses, The cumulative of delayed financial transaction has huge indirect loses etc.
Where as ATM trasaction is less expensives , more productive and convenience to all age group of peoples.
In our democratic country, the financial institutions alway waiting for an created oppertunities to exploit monitory benifit by conveying a tricky projections to government administrators to gain their targets of benifits.
It is very much true that the physical transaction(thro by cheques, withdraw is alway more expensives) higher than ATM transactions.
I request Shri.Modi Ji not to bend for financial institutions false claims.
In my day to day experiences, i found that there are so many under operative many ATMs and under repairs ATMs are there in single places / areas. Which causes more expenses due to providing security system, electricicity expenses, Electronic gatgets maintenances and AMC loads. There are many needy area is not having adequate ATMs. These under operative ATMs is indirect burdons on customers only.
Here, I would like to suggest to the present government that "All ATM operation shall come under one corporation under RBI throught India" and the total expenses shall be shared by all banks in proportion to their money transaction volume X Nos. Of transaction.
And also the following adequate measure shall be taken care by the corporation,
1. The under operative ATMs shall be relocated in needy places,
2. Online maintenance with online intractive maintenance with Corporation & AMC agency shall be introduced to speedy rectification of ATMs shutdowns.
3. Money availability status & recharging indication programme shall be automatted. In-order to avoid delay of functioning of ATM.
4. By constituting ATM corporation under RBI, more expenses can be cut down from losses from inoperative expenses, electricity consumption can be reduced, the total annual expenses towards UPS services, Electronic gatgets maintenances, security systems expenses and other indirective expenses.
Think possitively & implement by bringing changes under your able guidences Mr. Modi Sir. It is posible with like you clean handy honesty personality only. please go head along with youngesters innovative cooperations for sucesses.
jai Hind. more
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View all 32 comments Below 32 comments
its foolishness to charge for drawing cash from ATM. ACTUALLY, the bankers want to minimize the cash transactions in the branches to avoid the strength of the staff. more
Nov 15
Limiting Number of transactions at the Bank Counter and limit on ATM transactions Can Reduce Saving Rate which further leads to reduction of Investments. If Savings & investment reduced that can badly effect the economy. So free Bank Counter transactions allowed upto 20 and Home bank ATM transations upto 20 (With minimum transaction of Rs 500/- ) other Bnak transaction up to 5. more
Nov 10
It is not only unfair and the bank will loose their credite balances. people will start withdrawing huge money either direct or through ATM. more
Nov 10
tie the bail.We consumer are fed up with Bank staffs going for strike off and on. Please break their service as soon as the staff goes for strike. more
Nov 10
The charging of more than 5 ATM transactions, is in violation of the earlier promises. People and their banks made ATM transactions almost public friendly with a view to reduce the load on bank employees and to save time. Now that they have achieved their goal by not replacing the retired staff at bank branches and opening more branches, squeezing the always burdened customer public in unjustified. Banks' profits have gone down due to various monetary policies and distributing money of the banking people to the non banking few which turns out to be NPA within no time. Banks especially the so called new generation ones, resort to many unfair practices to increase their profit. The existing practice of charging more than 5 non home ATM transactions only, is fair. The proposed counting of enquiry also as transaction is ridiculous. Most people will prefer to wait at branches for transactions than to pay for even balance enquiries. Suresh G more
Nov 10
