Latest news with #CRMs
Hindustan Times
30-04-2025
- Business
- Hindustan Times
New ATM rules from May 1, transaction charges to increase after free limit
The Reserve Bank of India (RBI) has updated the framework for ATM charges, which will be effective on Thursday (May 1). The changes will affect free transaction limits, charges for additional transactions, and interchange fees in the country's banking system. According to the new rules, customers can use the ATM for a set number of transactions in a month, after which a fee will be charged. There will be three free transactions in metro areas and five in non-metro areas, and they will include both financial and non-financial transactions. Once the transaction limit is reached, a customer may be charged ₹23 for every additional transaction that they make using the ATM and the Cash Recycler Machines (CRMs). But the charges won't be applicable for depositing cash through the CRMs. While only the financial transactions will be counted when a customer uses their own bank's ATM, both financial and non-financial transactions will be counted for other banks. Also read: RBI allows minors above 10 years to operate savings bank accounts independently The RBI's decision comes as there is a need to ensure the financial viability of ATM operations in the country. As per data reported by Livemint, India had 2,16,706 ATMs as of January 2025, including 1,30,902 on-site and 85,804 off-site units. These ATM operations have been impacted by several factors, including rising operational costs such as maintenance, cash handling, and technology upgrades. These factors have made it necessary to adjust the fee structure to support continued ATM availability, giving relief to smaller banks and white-label operators. The RBI's revision of ATM transaction charges, especially related to the withdrawal of cash, reflects a broader effort to balance customer convenience with the rising cost of ATM operations. While the fee increase is modest, it signifies an evolving financial ecosystem where digital transactions continue to gain traction and physical cash handling demands more robust infrastructure support.
India Today
30-04-2025
- Business
- India Today
RBI's raises ATM charges Rs 23 from May 1: Know the details here
From May 1, 2025, new rules on ATM charges will come into effect across India. These changes, announced by the Reserve Bank of India (RBI), will affect how many free ATM transactions you get each month and what you'll be charged if you go over that ATM TRANSACTIONS: WHAT'S CHANGING?RBI in its notification stated, 'Customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs. They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres.'advertisementIt also added, 'Beyond the free transactions, a customer may be charged a maximum fee of Rs 23 per transaction. This shall be effective from May 01, 2025.' In other words, the number of free ATM transactions you get depends on where you living in metro cities would get three free transactions per month, while those living in non-metro areas would get five free transactions per month. These include both financial transactions (like cash withdrawals) and non-financial ones (like checking your balance or getting a mini-statement). Once you cross the free limit, banks are allowed to charge CHARGES IF YOU CROSS FREE LIMITStarting May 1, 2025, if you use ATMs beyond the free limit, your bank can charge you up to Rs 23 per transaction, up from the existing Rs 21. This rate applies whether you are withdrawing money or just checking your charges also apply at Cash Recycler Machines (CRMs), except for when you are depositing BANKS MAKE ANNOUNCEMENTSSeveral banks, like HDFC Bank, Punjab National Bank (PNB), and IndusInd Bank have already started informing customers about the revised Bank mentioned 'With effect from 1st May 2025, ATM transaction charge rate beyond free limit of Rs 21, along with taxes would be revised to Rs. 23 + taxes, wherever applicable.''For transactions at HDFC Bank ATMs, only cash withdrawal transactions will be considered for charging. Non-Financial Transactions (Balance Enquiry, Mini Statement & PIN Change) will be free,' it Bank also stated, 'Transactions conducted at ATMs in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad will be considered as Metro ATMs.'
Time of India
28-04-2025
- Business
- Time of India
RBI's new ATM transaction rules take effect from May 1: Charges, revised limits - all you need to know
Representative image Starting May 1, 2025, the Reserve Bank of India 's (RBI) updated framework for ATM transaction charges will come into force, bringing changes to free transaction limits, charges for additional transactions, and interchange fee structures across the country. Under the new guidelines, customers will be entitled to a set number of free ATM transactions each month—three in metropolitan areas and five in non-metropolitan regions. These free transactions include both financial and non-financial activities. Once customers exceed their monthly free transaction limits, banks will be allowed to charge up to Rs 23 per transaction, with applicable taxes added. These charges apply to both financial and non-financial transactions and extend to usage at Cash Recycler Machines (CRMs), excluding cash deposits. Several major banks, including HDFC Bank, Punjab National Bank (PNB), and Kotak Mahindra Bank, have already begun notifying customers of the changes. According to HDFC Bank, "With effect from 1st May 2025, the ATM transaction charge rate beyond free limits will be revised from Rs 21 + taxes to Rs 23 + taxes, wherever applicable." The bank clarified that at HDFC Bank ATMs, only cash withdrawals beyond the free limit will incur charges, while non-financial transactions remain free. However, at other banks' ATMs, both financial and non-financial transactions will be counted toward the free transaction limit. PNB also announced revisions, stating, "Customer charges for transactions over and above free limits at other banks' ATMs are revised to Rs 23 per financial transaction and Rs 11 per non-financial transaction (excluding GST) with effect from 9th May 2025." IndusInd Bank, too, has updated its policy: "All Savings, Salary, NRI, and Current Account customers will be charged Rs 23 per transaction for ATM cash withdrawals at non-IndusInd Bank ATMs beyond free limits, effective 1st May 2025." As these changes take effect, customers are advised to: Monitor their ATM usage, especially at other banks' ATMs in metropolitan areas Be aware of the Rs 23 cap on charges for transactions beyond the free limit Remember that these charges also apply at CRMs, except for cash deposits Also read : India committed to reforms, says RBI governor The RBI's move aims to streamline ATM usage charges while encouraging the adoption of digital banking alternatives. Reserve Bank of India data revealed cash withdrawals decreased from over 57 crore transactions in January 2023 to 52.72 crore in January 2024, with a further reduction to 48.83 crore by January 2025. Despite this trend, cash continues to play a vital role in India's economy. The 2021 fee adjustment supported ATM infrastructure expansion. The average monthly ATM withdrawals in FY24 stood at Rs 1.43 crore, reflecting a 5.51 per cent yearly growth. NPCI communications detailed a Rs 7 interchange fee for balance enquiries in Nepal and Bhutan, exclusive of GST, whilst retaining current cash withdrawal rates. These updated charges exclude Micro-ATMs, interoperable cash deposits, and international ATM operations. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Yahoo
16-04-2025
- Business
- Yahoo
GReminders Announces New Integrations with Leading CRM Solutions to Streamline Workflows for Advisors
Latest integrations put AI-enabled meetings and compliance-friendly productivity tools at the fingertips of more advisors across the wealth management industry LOS ANGELES, April 16, 2025--(BUSINESS WIRE)--GReminders, a leading end-to-end meeting and automation management platform for financial advisors, today announced a series of new integrations with top customer relationship management (CRM) providers serving the financial advisor industry. New integrations with XLR8, Quivr, Smart Office, Envestnet Tamarac, and SS&C Salentica will empower advisors to manage their calendars and meetings, apply client-level data and intelligence and automate next-best-actions, all seamlessly within the CRM systems they are accustomed to using. The new integrations will meet the increasing demand of advisors seeking compliance-friendly solutions to streamline everyday operations within their existing systems. "We understand the strong preference advisors have for the CRMs they already use," said Arnulf Hsu, founder and CEO of GReminders. "In many cases, they've been using these tools for years and are hesitant to change. Our goal is to deeply integrate our technology within their systems to operate intuitively with these platforms, and effectively be a powerful upgrade to their daily workflows, accelerating efficiencies within their firms." By integrating GReminders AI-enabled technology, the advisor-focused CRMs benefit from enriched calendar data to seamlessly automate client emails and SMS notifications. Additional enhancements include the ability to book meetings via the GReminders enterprise-grade scheduling system, generating pre-meeting briefs based on existing CRM notes and logging post-meeting summaries and tasks back in the CRM. Numerous automations are added via the integrations, including launching opportunities and workflows after booking a meeting. GReminders is currently listed first among "Schedule Applications" in Ezra Group's WealthTech Integration Score ranking, with a near-perfect score of 9.30 of a possible 10. These industry-wide rankings are based on an evaluation of the "robustness of an application's external integrations." The GReminders score reflects the breadth, depth and quality of its integrations with advisor-focused CRMs as well as its advanced capabilities. This includes the recently launched "Ask Anything" assistant feature, a next-generation natural language interface that allows advisors to seamlessly interact with their calendars, CRMs and wealth planning tools, using simple, everyday language. The feature eliminates the need to navigate between multiple software solutions to get answers about a client and subsequently initiate tasks. While GReminders works seamlessly with advisor-focused CRMs, its advanced end-to-end meetings management technology is designed to assimilate into workflow and productivity platforms of all types. Recent integrations with Microsoft Dynamics, Asana and Notion have put GReminders tools in the hands of financial advisors within their preferred technology environments. "As the nerve center of an advisor's business, the CRM must continually adapt to meet the evolving needs of clients," added Hsu. "Our integrations supercharge existing workspaces, business applications and platforms to help advisors unlock efficiencies so they can better serve their clients, scale their business and achieve their goals." For more information, visit About GReminders Founded in 2020, GReminders is a leading AI-powered end-to-end meeting and automation management platform designed specifically for financial advisors. By streamlining scheduling, automating processes, and reducing busy work, GReminders empowers advisors to focus on delivering exceptional client experiences. With seamless integrations and compliance-friendly features, GReminders is transforming wealth management workflows. View source version on Contacts Media Contacts: StreetCred PRgreminders@ Stoyan Bojinov 224-622-6637stoyan@ Rob Farmer 415-377-3293rob@ Sign in to access your portfolio
