Now Indian debit card users will be allowed to use their debit card in other bank’s ATM for only five times in a month,even for non-financial transactions such as balance inquiry,pin change as well as mini-statement.Now if you use another bank’s ATM for the sixth time in a month you will be charged with 20 rupees for cash withdrawal and 8.5 for other non-financial transactions.

There is a good news for ATM holders that now if some one’s money got stuck in an ATM and if money has been deducted from his account then he will be able to get his money back within seven days.

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Federal Reserve have asked banks to charge retailers a fix 21 cents every time they swipe their cards.From past few years retailers were complaining for years about the fees that banks used to charge each time when a consumer pay by debit card.

Currently banks are charging around an average of 44 cents per swipe with no limit.The Fed’s board of governors voted for the new rules 4-1.Fed staff said the higher cap reflects a broader range of costs incurred by banks that issue debt cards.

Besides the fixed 21 cents rule will also allow banks to charge a fraction more to cover up the costs of fraud prevention.

http://www.npr.org/2011/06/30/137516465/banks-ordered-to-lower-retailers-debit-fees?ft=1&f=1014&sc=tw

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