Why can't more banks offer free funds transfer/other services?There is this superb private sector bank called City Union Bank. Its net banking services are simply world class. The best part of this bank is that the net banking transfers of money to other banks is totally free, irrespective of the amount involved. One has to just add the beneficiary and do all the transfers. Even if the other bank ATM card is not available, one can jolly well use this card to withdraw cash from this bank.
Federal Bank is another superb private sector bank. One can use this ATM card at any ATM, any number of times, subject to a maximum limit of Rs.20,000/-. One can have two accounts in the name of family members and use the cards to withdraw Rs.40,000 as well.
Why can't other banks follow these superb examples and offer their services for free? If they do not offer such services, Members can jolly well do their own research to identify sources where the money can be easily withdrawn and also deposited. One understands that the Post offices in the main cities have a provision to open SB accounts so quickly and also give ATM facilities.
New private sector banks like the Fincare Bank offers ATM where the cash can be withdrawn up to ten times. Since it is never safe to have big money at home, we should have many accounts and store the ATM cards in a very safe place that the thieves cannot find out. It is also wise to give the ATM cards to some dependable relatives.