ICICI caps free ATM transactions at 5 from Jan 1

[Karthick Gururaj]

http://timesofindia.indiatimes.com/business/india-business/ICICI-caps-free-ATM-transactions-at-5-from-Jan-1/articleshow/45424635.cms

From the article:

Beyond free transactions, customers will be charged Rs 20 for cash withdrawals and Rs 8.50 for non-cash transactions. 

I wonder if they got to know that brevets use ATM slips for unmanned control :)

- Karthick

[Yateesh Kumar]

Its because of the RBI directive. A circular which came in November &few banks already started charging from dec 1st.
http://www.oneindia.com/india/atm-transaction-rules-free-rs-20-extra-fine-rbi-hdfc-axis-bank-metro-cities-dec-1-1577187.html
While they are literally ignorant or very slow on incorporating security measures, they dont wait to jump into action in case of monetization!!
Inimical ways in business!!

--
biking conversations on the world famous "Bangalore Bikers Club" :)
 
are you a part of the bicycle racing scene?
Visit www.bangalorebicyclechampionships.com for more details
---
You received this message because you are subscribed to the Google Groups "Bangalore Bikers Club" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bangalore-bike...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

[Sandeep]

Here is the RBI notification:

http://rbidocs.rbi.org.in/rdocs/notification/PDFs/URS140814FS.pdf

I receive separate counts(metro/non-metro) in the SMS sent from my bank for transactions.

Yateesh: this will probably help in reducing cash usage and encourage electronic transfers and more availability of POS terminals.

For now, I see no other alternative for brevets where we require timestamp/location and 24/7 availability. We have used shop receipts before for day time controls but most close in the night.

We do have a few good-hearted volunteers who go out and man controls but having automated controls allows the organizer to conduct brevets without requiring any help.

--

[Opendro]

This is also a good measure to discourage people to ride more than a brevet in a month (10 free transactions allowed). Too much brevet is bad for internal family matters :-P

Just joking. Have any of the state bank and its fraternity ATM card and you will not have any trouble. HDFC ATM, for instance, can have unlimited transactions in any of the state bank ATMs (such as State Bank of Mysore, Hyderabad, Trivancore, etc. etc.) besides its own ATMs. If you have an ATM of your payroll account (which most riders will have), then all these charges would be waived off in the first place.

[Ashok Kumar S]

Sbi has charged me for kottai brevet. ;(

Thanks and regards,

Ashok. 

Sent from my iPhone

[Anil Kadsur]

SBI doesn't like the climbs....that is why....

very truly,

anil s kadsur,

http://kadsur.blogspot.in/

[Mehul Ved]

Are you sure? I got notice from HDFC about the same transaction limits. I haven't crossed them so can't confirm.

--

With Regards,
Mehul Ved

[Opendro]

HDFC bank ATM card can be used in any state bank fraternity ATMs without charge, but not the other way around. But a SBI ATM card can be used in any of the state bank ATMs. I have both SBI and HDFC ATM cards :-D

[Opendro]

Darn! You seem to be right : http://www.hdfcbank.com/personal/ways-to-bank/bank-in-person/atms
Expand the "What are the ATM fees?" section. Looks like, salary accounts are not spared. I have not got any notification yet though. It is very likely that it does not apply to me (optimist ;))

[Ashok Kumar S]

I have all, but usually keep a small balance in my sbi iisc account and carry that atm on a safer side. After the brevet, was surprised to see the charges. 

Thanks and regards,

Ashok. 

Sent from my iPhone

[Sreepathi Pai]

To be really frank, the ATMs were used as a convenient neutral third
party with synchronized timing. Other technological alternatives can
be developed (an app on a smartphone, for instance).

I think India is the only country that uses ATMs at such a large scale
in brevet rides.

However, if the brevet riders community can decide that they are
mature enough to ride without such neutral third party confirmation,
they should do so. Most other countries, including France, simply
require riders to sign themselves/or in stores.

Of course, this approach will draw criticism from people who don't
understand the code of the brevets and spend lots of time and money
policing their riders [poorly]. But I think the community in Bangalore
no longer cares for such people :-)

So, in my opinion, the community in Bangalore should move towards
self-attestation.

Sreepathi Pai

[Sandeep]

On Wed, Dec 10, 2014 at 8:50 PM, Sreepathi Pai <sre...@gmail.com> wrote:

However, if the brevet riders community can decide that they are
mature enough to ride without such neutral third party confirmation,
they should do so. Most other countries, including France, simply
require riders to sign themselves/or in stores.

Photo/info controls being used already puts on that path.