Covid-19: ATM withdrawal charges waived for 3 months
Nirmala Sitharaman also announced free of charge cash withdrawal from any other bank ATM allowed for debit card holders for three months.Updated: Mar 24, 2020 17:10 IST
Union finance Minister Nirmala Sitharaman on Tuesday announced the waiver of minimum bank charges for savings bank accounts to help citizens deal with a countrywide lockdown due to the coronavirus outbreak tgat has affected almost 500 people across the country.
Among a clutch of measures, she also announced free of charge cash withdrawal from any other bank ATM allowed for debit card holders for three months.
Different banks have different minimum balance limits that customers have to maintain failing which banks levy penalties.
On ATM withdrawals, banks allow a limited number of free withdrawals before charging a free for subsequent usage of the facility.
Many banks also charge a fee if a debit card of a different bank is used on its ATMs.
The lockdown over coronavirus has also affected banking services with many now working with reduced staff. Banks have also cautioned customers about likely delays in delivery of cards, cheque books etc.
The lockdown has also hurt the middle and low income groups including daily wage earners.
Sitharaman also said the government will soon announce an economic package to help through the coronavirus lockdown.