Federal Bank's Republic Day Gift to Its Customers
Federal Bank has decided to scrap service charge on ATM transactions of its customers undertaken through other banks' ATM machines. At present such transactions are limited to 5 times, free of service charge. Banks charge Rs. 20 for every additional transaction done through other banks' ATM machines. As per the new norm, a Federal Bank ATM card holder can undertake any number of transactions through other bank's ATM machines without paying any additional charges for it. This way Federal Bank account holders can use more than 80,000 ATM machines across the country free of charge. This will come into effect from Jan 26, 2011.
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