RBI has clarified the rules related to ATM transactions, cash limit and bank charges

RBI: The Reserve Bank of India (RBI) has implemented new rules regarding ATM transactions. These include the limit of free transactions, rules for cash deposit-withdrawal and extra charges. Know what these charges are..

Free ATM Transactions (in metro cities)

Customers get the facility of 3 free ATM transactions. This includes both cash withdrawal and balance check.

Free ATM Transactions (in Non-Metro Cities)

Customers in non-metro cities are offered 5 free transactions.

What happens after the free limit?

• If you transact more than the set limit, the bank will levy a charge.
• aximum Rs 23 + GST ​​per transaction.
• For non-financial (like balance check) some banks charge Rs 11.

Banks’ charges

• PNB: Rs 23 (financial), Rs 11 (non-financial)
• HDFC: Rs 23 flat charge
• SBI: Old rates are applicable now.

Cash Deposit and Withdrawal

• There is usually no charge on cash deposit (Cash Recycler Machines).
• Charges are levied as per the bank for withdrawals exceeding the limit.

Annual limit of cash transactions:

• It is mandatory to provide PAN and Aadhaar for depositing/withdrawing cash of Rs 20 lakh or more in a year.
• This rule is to prevent black money.

How to avoid unnecessary charges

• Use your own bank’s ATM.
• Use netbanking/mobile banking for balance check and statement.
• Keep track of ATM usage every month.