ATM fees in India?

grikoo · Jun 17th, 2008, 06:24

Just wondering about the current average ATM fees in India?

TracyB · Jun 17th, 2008, 09:25

I do believe it depends on your bank and what type of account u have...I don't pay anything...

zoltan · Jun 17th, 2008, 10:04

It is based on which bank /country your card is held with.

Mine charges AU$5 per international transaction.

Cheers
Zoltan

shashank.aggarwal · Jun 17th, 2008, 11:33

I have an Indian bank account, and I do not pay for using ATM of the same bank.

Nick-H · Jun 17th, 2008, 14:49

The ATM doesn't charge you fees: your bank does.

Or maybe does.

grikoo · Jun 17th, 2008, 21:09

No, there is generally a transaction fee from the local bank, if it is not your own bank.

Then your own bank may also levy fees against you for overseas transactions, or take a percentage cut.

Then there are the bank exchange rates, which take a small cut.

I'm interested in the transaction fees. Usually they notify you at the ATM when you take money out. At least here in the US they do.

Anything like that in India?

Need to hear from people with foreign accounts, taking money out of ATMs in India.

Mickey S · Jun 17th, 2008, 22:52

Some banks in the UK - notable Nationwide - do not charge any fee when you withdraw money with a debit card overseas, nor do they charge when you purchase something with a credit card.

I have a Nationwide account and have never paid a single penny in transaction fees or commission when withdrawing money in any country in the world, including India. The exchange rate is also better than you would get at any bank or bureau de change.

dmckie250 · Jun 17th, 2008, 23:30

yeah i've signed up for a nationwide account for just that reason. it doesnt cost me anything to have the account and i just transfer money into it when i'm going on holiday. brilliant!

rangss · Jun 17th, 2008, 23:38

This should bring some cheer....

RBI proposes banks eliminate all ATM fees from April 2009

My bank charges me a fee for using another bank's ATM (Rs 50) but then reverses the charge later. This I heard is because it is a salary account.

Nick-H · Jun 18th, 2008, 03:07

My bank does much the same.

But this news will only be of chear to holders of Indian bank accounts. I'm sure the foreign tourists will still find their banks enthusiastically loading the exchange rates, piling on the foreign-transaction fees and so on and so on.

Except for Nationwide of course!

grikoo · Jun 18th, 2008, 03:20

Yes, my regular account charges 'up to' 3% for foreign transactions! I'm glad I checked before using my regular ATM card.

So,I got an online account with an ATM card, which charges no percentage, no transaction fees, and uses the visa exchange rate, which as far as I can tell, tends to be slightly better than the bank rate. It has a similar ATM fee reimbursement program, but it's only applicable in the US. Hence the current thread.

It also has a digital key for online login, which is what I initially liked about it. And it returns a modest percent in interest.

rajiveanand · Jun 18th, 2008, 03:20

Citibank charges a 2% Foreign fee for any of my transactions- Kind of sad to look at it upon returning to USA because 5 bucks for example is a lot of money in India. Then again, you'd probly pay about the same for travelers' cheques.

R.

wonderwomanusa · Jun 18th, 2008, 11:49

I have an ATM card linked to a brokerage accout; they only charge me $1 for withdrawals. I used this five years ago when I was in India, and that was the only fee I paid.

grikoo · Jun 18th, 2008, 21:21

Which company?

Jun 17th, 2008, 06:24	#1
grikoo Disclaimer- He who knows not what he speaks of Join Date: May 2008 Location: Here Posts: 456	ATM fees in India? Just wondering about the current average ATM fees in India?

Jun 17th, 2008, 10:04	#3
zoltan Senior Member Join Date: Mar 2008 Location: Australia Posts: 490	It is based on which bank /country your card is held with. Mine charges AU$5 per international transaction. Cheers Zoltan __________________ India (and other) photos click here

Jun 17th, 2008, 11:33	#4
shashank.aggarwal Mr. Tagless Join Date: May 2007 Location: ~ Dilli ~ Posts: 5,018	I have an Indian bank account, and I do not pay for using ATM of the same bank. __________________ Travelogue - Around India Random Reviews

Jun 17th, 2008, 14:49	#5
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 25,300	The ATM doesn't charge you fees: your bank does. Or maybe does. __________________ . Just one member of the IndiaMike Mod Team

Jun 17th, 2008, 23:38	#9
rangss Bulk Carrier Join Date: Dec 2004 Location: Chennai Posts: 1,832	This should bring some cheer.... RBI proposes banks eliminate all ATM fees from April 2009 My bank charges me a fee for using another bank's ATM (Rs 50) but then reverses the charge later. This I heard is because it is a salary account. __________________ ...and I took the road less travelled. Last edited by rangss : Jun 17th, 2008 at 23:40. Reason: Added more info

Jun 17th, 2008, 09:25	#2
TracyB Senior Member Join Date: Apr 2004 Location: Edmonton, Canada Posts: 330	I do believe it depends on your bank and what type of account u have...I don't pay anything...

Jun 17th, 2008, 21:09	#6
grikoo Disclaimer- He who knows not what he speaks of Join Date: May 2008 Location: Here Posts: 456	No, there is generally a transaction fee from the local bank, if it is not your own bank. Then your own bank may also levy fees against you for overseas transactions, or take a percentage cut. Then there are the bank exchange rates, which take a small cut. I'm interested in the transaction fees. Usually they notify you at the ATM when you take money out. At least here in the US they do. Anything like that in India? Need to hear from people with foreign accounts, taking money out of ATMs in India.

Jun 17th, 2008, 22:52	#7
Mickey S Maha Guru Member Join Date: Feb 2007 Location: Cymru Posts: 1,069	Some banks in the UK - notable Nationwide - do not charge any fee when you withdraw money with a debit card overseas, nor do they charge when you purchase something with a credit card. I have a Nationwide account and have never paid a single penny in transaction fees or commission when withdrawing money in any country in the world, including India. The exchange rate is also better than you would get at any bank or bureau de change.

Jun 17th, 2008, 23:30	#8
dmckie250 Member Join Date: Jun 2008 Location: Liverpool Posts: 15	yeah i've signed up for a nationwide account for just that reason. it doesnt cost me anything to have the account and i just transfer money into it when i'm going on holiday. brilliant!

Jun 18th, 2008, 03:07	#10
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 25,300	My bank does much the same. But this news will only be of chear to holders of Indian bank accounts. I'm sure the foreign tourists will still find their banks enthusiastically loading the exchange rates, piling on the foreign-transaction fees and so on and so on. Except for Nationwide of course!

Jun 18th, 2008, 03:20	#11
grikoo Disclaimer- He who knows not what he speaks of Join Date: May 2008 Location: Here Posts: 456	Yes, my regular account charges 'up to' 3% for foreign transactions! I'm glad I checked before using my regular ATM card. So,I got an online account with an ATM card, which charges no percentage, no transaction fees, and uses the visa exchange rate, which as far as I can tell, tends to be slightly better than the bank rate. It has a similar ATM fee reimbursement program, but it's only applicable in the US. Hence the current thread. It also has a digital key for online login, which is what I initially liked about it. And it returns a modest percent in interest.

Jun 18th, 2008, 03:20	#12
rajiveanand RAJIVE SADA ANAND, MFA Join Date: Mar 2007 Location: Bronx, NY, USA Posts: 199	Citibank Citibank charges a 2% Foreign fee for any of my transactions- Kind of sad to look at it upon returning to USA because 5 bucks for example is a lot of money in India. Then again, you'd probly pay about the same for travelers' cheques. R. __________________ www.rajiveanand.com

Jun 18th, 2008, 11:49	#13
wonderwomanusa Maha Guru Member Join Date: May 2003 Location: Northern California Posts: 3,137	I have an ATM card linked to a brokerage accout; they only charge me $1 for withdrawals. I used this five years ago when I was in India, and that was the only fee I paid.

Jun 18th, 2008, 21:21	#14
grikoo Disclaimer- He who knows not what he speaks of Join Date: May 2008 Location: Here Posts: 456	Which company?

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