All of us have bank accounts. ATM Withdrawal Charges You would have noticed that the bank offers several services to give its clients decent amenities. These include checkbooks, net banking, ATM cards, credit cards, etc. The number of ATM users is likewise constantly rising, as cash day by day follows an increasing trend. Under such circumstances, today we will explain the charge applied for cash withdrawal from an ATM.
People now would rather take money out of an ATM than visit a bank. Although account holders may withdraw money from any bank’s ATM, keep in mind that the limit of free transactions from any other bank’s ATM also varies depending on the bank.
For what charge will cash withdrawal from an ATM pay?
Along with the monthly fee for the ATM card, the Reserve Bank of India’s (RBI) new guidelines directed the banks to charge Rs 21 per transaction from the users in June. Notably, the first five ATM transactions from their bank are free for the users. Simultaneously, other banks in metropolitan areas have set a limit of three transactions. This limit is five withdrawals in non-metro cities at the same period. You would have to pay a maximum fee of Rs 21 per withdrawal whenever you do more transactions than this. January 1, 2022, marks the commencement of this rule.
Recognize the SBI ATM withdrawal fee.
Up to a monthly amount of Rs 25,000, State Bank of India grants five free ATM transactions. Conversely, you would have to pay Rs 10 for every transaction + GST for a withdrawal of more than this. Conversely, you must pay Rs 20 plus GST at other banks’ ATMs. For monthly balances over Rs 25,000, you can withdraw cash from ATMs as often as you like.
Understanding PNB ATM withdrawal charges
PNB, the nation’s second-biggest public sector bank, allows its customers to make five free ATM transactions in metro and non-metro cities. You must then pay Rs 10 plus GST in cash from PNB. Conversely, you would have to pay Rs 21 plus GST on other banks.
Understand HDFC Bank withdrawal fees.
Big private sector bank HDFC Bank also provides its clients free access to complete five ATM transactions monthly. In other banks in metropolitan areas, this restriction is just three transactions. You will have to pay GST charges and Rs 21 for each transaction.
Understand ICICI Bank withdrawal fees.
ICICI Bank has put limits of five transactions from ICICI Bank ATMs and three from ATMs of other banks, the same as other banks. Customers must then pay Rs 20 for each withdrawal and Rs 8.50 for non-financial transactions.
