Daily ATM limit increase - does that mean cash problems are over

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#136 Feb 13th, 2017, 10:54
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#136
Cashless transactions are impossible in a place like Ladakh, where the internet went down a few weeks ago and was stated to be not reparable until Zoji-La Pass opens in May and equipment can get to the cable. There's a tiny bit of low bandwidth internet on phones at night sometimes, but no broadband for the net four months, and not really any in the daytime even on phones. This happens approximately one in two winters in Ladakh. I've never heard of local vendors using many cashless transactions. Just not possible!
#137 Feb 13th, 2017, 13:02
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#137
Yes, online stuff is easy provided one is a) middle class and above and b) lives in the larger urban areas, which is why demonitisation hit those folks the least.
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#138 Feb 13th, 2017, 13:21
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#138
Unusually, had to go out in the morning, taking car for dent repair (a 6K Rs lesson in looking at my own driving before shouting at others ). Walking back home, saw open ATMs!

But, in evenings, I am still seeing them closed. It was not unusual for out local ATM to run out, but the local-branch machine used to really be 24-hour. Not these days.
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#139 Mar 5th, 2017, 15:14
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#139
Dear friends,

I tried to read again, to watch the news, I am lost :

What is today the maximum withdrawal in a single transaction for a foreigner (I have a visa card)? Somewhere I read 10.000 rps, elswhere 24.000 rps..

It looks like the banks are more en more greedy. How much is the commission on a single transaction ?

Thanks for your answers.
#140 Mar 5th, 2017, 15:30
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#140
It is confusing. If you have an account in ICICI bank and using a ICICI debit card to withdraw cash from ICICI ATM then you can withdraw Rs 24000/-. If you have ICICI debit card and withdraw from some other bank ATM then you can withdraw Rs 10000/-. Since you are a non-indian having an outside India bank account you can withdraw Rs 10000/- at 1 time. Regarding the commission it would depend on your bank.
#141 Mar 5th, 2017, 15:34
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#141
It's Rs. 50000 a week at present (both bank and ATM withdrawals) for local accounts/cards. No daily limit except what each bank sets for itself.
Foreign cards were reported to be useable upto 4 transactions a day. You'll have to see what you can get with yours. It's a brave new world!

Nobody knows which bank is charging what and when re transaction charges. It's a brave new world!


P.S. 4 banks have introduced a charge of Rs. 150 per ATM withdrawal after 4 free ones. Avoid them like the plague! (see the Demonetisation thread for details)
And then there are the charges levied by your own foreign bank.
#142 Mar 5th, 2017, 16:49
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#142
The situation for fn debit cards is back to status quo ante* - except I suspect that fewer ATMs are accepting fn cards.

* ₹10,000 per transaction, daily limit (and charges) set by your fn bank/card type (often = 250 a day).

AndyD 8-)
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#143 Mar 5th, 2017, 17:52
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#143
Thank you aarosh and Dilliwala,

Good clarification of the situation (some clouds are still there...above our brave new world).
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