Public sector banks waive ATM withdrawal charges ahead of three-day strike

Government and private banks across the country are going on a three-day strike from September 28 to 30. Ahead of the strike, government banks have taken a major step to give customers some relief. To ensure customers do not face trouble withdrawing cash from ATMs during the strike, banks have decided that no extra charge will be levied on ATM withdrawals during this period.

Under this decision, government banks have decided that even if a customer withdraws cash beyond the fixed free ATM transaction limit during the strike, the additional charge that would normally apply will not be collected.

Several government banks, including SBI, Punjab National Bank, Bank of Baroda, Union Bank of India and Indian Bank, have made this decision public. These banks have shared the information with customers through posts on their official social media pages. This means that during the strike, customers will be able to withdraw cash from their own bank's ATMs as well as from other banks' ATMs, and no extra charge will be levied even if they withdraw more times than the fixed free limit.

SBI has also said on its Twitter handle that banking services will not stop during the strike. SBI said that even during the proposed strike, it will keep essential banking services such as ATMs, YONO, internet banking, mobile banking, WhatsApp banking and its 24x7 contact centre running.

According to RBI rules, customers can generally withdraw cash for free up to five times a month from their own bank's ATMs. In large cities, three free withdrawals are allowed from other banks' ATMs, while in other places the limit is up to five times. Banks can charge for withdrawals beyond this limit. However, this extra charge has been waived for some time during the September 28-30 strike.

The question now is why this strike is taking place. Bank employees are preparing to go on strike from September 28 to 30 under the banner of the United Forum of Bank Unions. Among the bank unions' main demands is that banks remain open only five days a week. Organisations representing about 90 percent of bank employees are joining the strike, and regional rural banks will also take part.