ATM Withdrawal Charges: Recently an important update has been issued for bank account holders. If you are an account holder of SBI, HDFC, ICICI and Axis Bank, now you will have to pay additional charges for withdrawing money from ATM.
New Delhi: All big government and private banks across the country have made changes regarding cash withdrawal from ATMs. Now you will have to pay additional charges for withdrawing more than the prescribed ATM cash withdrawal in a month. This fee will be Rs 20 to 22.
3 transactions are free-
ATM Withdrawal also includes financial and non financial services. Generally 3 transactions are free in a month. After this, rules and charges of different banks have been imposed.
Fee fixed at Rs 21 per transaction –
The Reserve Bank of India said in a circular last year that a fee of Rs 21 per transaction will be charged for withdrawing more money than the monthly free transaction.
The new rule has come into effect from January 1, 2022. Know about the limits and charges of ATM transactions of some big banks. These banks include SBI, PNB, HDFC, ICICI Bank and Axies Bank.
This maximum limit in SBI –
For ATMs located in 6 metro cities – Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad, the maximum limit of free transactions for other bank ATMs is 3.
Earlier, accounts with monthly minimum balance (ABM) of Rs 25,000 were offered unlimited transactions at SBI ATMs, this facility will now be available only to those customers who maintain an ABM of Rs 50,000. The number of free transactions is limited to 3 in metro cities.
This change happened –
SBI charges Rs 5 to Rs 20 depending on the ATM for transactions exceeding the free limit.
For non-financial transactions beyond the free limit, customers are charged Rs 5 at SBI ATMs and Rs 8 at other bank ATMs, in addition to the applicable GST rates.
A charge of Rs 10 is levied on cash withdrawal transactions exceeding the free limit at SBI ATMs. For additional financial transactions at other bank’s ATMs, SBI charges Rs 20 per transaction. In addition to the fee, applicable GST is also charged to the customer’s account.
Charge of Rs 20 in PNB-
PNB gives 5 free transactions per month in ATM. Also, a charge of Rs 10 has to be paid for any financial transaction. The rules for transactions from ATMs of banks other than PNB are different.
There is a rule of 3 free transactions in a metro city and 5 free transactions in a non-metro city in a month. There is a charge of Rs 20 for doing financial or non-financial transactions beyond the free limit from another bank’s ATM.
The rules of international transactions are different from this. For international cash withdrawal, a charge of Rs 150 plus applicable taxes is charged. Rs 15 plus applicable taxes are charged for international balance enquiry.
HDFC Bank-
Only the first 5 withdrawals from HDFC Bank ATM in a month are free. Rs 20 plus taxes per transaction for cash withdrawals, Rs 8.5 plus taxes for non-financial transactions.
ATMs of any other bank allow 3 free transactions in 6 metro cities (Mumbai, Delhi, Chennai, Kolkata, Hyderabad and Bengaluru) and 5 free transactions (financial and non-financial) in a month in other locations. Is.
The fee for Debit Card PIN Re-Generation is Rs 50 (plus applicable taxes). You run out of money in your deck account and the transaction declines.
So there is a charge for that also. If the transaction is declined due to insufficient balance in another bank’s ATM or merchant outlet, a charge of Rs 25 will have to be paid.
Rs 20 plus GST from ICICI –
Daily cash withdrawal limit is given to the account holder depending on the type of card and type of account. It ranges from Rs 50,000 to Rs 1.5 lakh.
If withdrawal is made from ATM of any bank other than ICICI Bank, then a facility of Rs 10,000 per withdrawal is available. 5 transactions are free from ICICI ATM in a month.
After that, Rs 20 plus GST has to be paid on subsequent ATM withdrawals. This limit is for financial transactions while the charge for non-financial transactions is Rs 8.50 plus GST.
Axis Bank charges Rs 21 –
Daily cash withdrawal limit is Rs 50,000, Daily POS Transaction Limit is Rs 1,25,000. If there is not enough money in the account and the transaction declines, a charge of Rs 25 will be levied.
First 4 cash transactions of the month or Rs 1.5, whichever is earlier, comes under the free limit. Cash withdrawal of Rs 25,000 per day is free in non-home branches. For transactions more than this, Rs 5 per thousand will have to be paid.
The rules for depositing or withdrawing cash more than the limit are different. On depositing or withdrawing money from your account, you will have to pay Rs 5 per thousand or Rs 150, whichever is higher.
On deposit in third party account, Rs 10 per thousand or Rs 150, whichever is higher, will be charged. 5 financial transactions are free in a month and unlimited non-financial transactions are free from Axis Bank ATMs.
Financial and non-financial 3 transactions are free in metro cities. At other locations, 5 transactions are free in a month. If cash is withdrawn beyond the limit from Axis and Non-Axis ATM, then Rs 21 will have to be paid per transaction.
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