ATM Withdrawal Limit and Charges thereon. Here we are telling you about the top 5 banks, in which cities how much charge will be charged after how many transactions.
New Delhi. We are constantly confused about how many times to withdraw money from ATM (Automated Teller Machine), how much will be charged for doing more than the limit, how much will be charged from which bank. Many times, even after the limit is over, we withdraw and the bank deducts the money. Here we are telling you the guidelines of Reserve Bank of India (RBI) regarding this.
In June 2021, RBI issued a guideline. Under this, from January 1, 2022, if you withdraw from the ATM after the bank limit, then you will have to pay Rs 21 on every transaction. Let us tell you that in general, banks give 5 free transactions every month. After this, if you do any other transaction, then your money is deducted for this.
The question is, why are banks taking money on ATM service?
Money is spent on setting up and maintaining an ATM machine. The bank deducts money annually on debit and credit cards. However, these vary on different cards and offers. Keeping in view the ATM expenses, banks made a system to deduct money on transactions more than the limit.
Here we are telling you about the ATM transaction charges of some top banks.
State Bank of India (SBI) ATM Charges and Limit
If you are an SBI customer and doing non-financial transactions from SBI’s ATM itself, then you get a chance to do 5 free transactions. After this, you will have to pay Rs 5 on every transaction at SBI ATM and Rs 8 at other bank’s ATM. GST is separate in this.
At the same time, if you are withdrawing cash, then you will have to pay Rs 10 at SBI ATM and Rs 20 at other ATMs for every transaction. GST will be charged separately in this. At the same time, SBI International ATM will charge Rs 100 and will attract 3.5 percent GST.
Punjab National Bank (PNB) ATM Charges
PNB offers 3 free transactions every month for financial and non-financial transactions in metro cities Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad. At the same time, it gives 5 transactions in other cities.
After the free transaction, Rs 20 is charged on every transaction. On the other hand, Rs 9 is charged in non-financial.
Charges on HDFC Bank ATM
HDFC Bank gives 5 free transactions every month. For other bank, if you are in metro city then only 3 transaction will be available for free and if you are in non metro city then 5 transaction will be available.
After this, if you withdraw cash, then you will have to pay Rs 21 on every transaction. At the same time, Rs 8.50 will have to be paid on non-financial transactions. You will have to pay GST separately on both these amounts.
ICICI Bank ATM Charges
ICICI Bank allows 5 transactions for same bank and only 3 free transactions for other banks in metro city. After this, if you withdraw from the ATM, then you have to pay 21 rupees.
After 5 transactions, if you do financial transactions, then you will have to pay Rs 20 and if you do non-financial transactions, you will have to pay Rs 8.50.
Axis Bank ATM Charge
Axis Bank is also maintaining the same rules as HDFC and ICICI Bank. After this limit, the bank deducts Rs 21 on every transaction.
