Unveiling the Shocking Truth Behind ATM Charges: You Won’t Believe What Banks are Hiding

ATM Charges

All public and private sector banks in the nation extend the privilege to their customers of making free ATM cash withdrawals up to a defined number per month. However, if a customer exceeds this predetermined monthly limit for ATM withdrawals, they become liable to be charged for each additional withdrawal.

According to the latest directives from the Reserve Bank of India (RBI), customers of any bank are subject to a maximum charge of Rs 21 for ATM withdrawals. The majority of banks in India are authorized to conduct a maximum of 5 free transactions from ATMs within a single month; it’s important to note that this limit pertains to a one-month period.

Punjab National Bank ATM Charges:

Punjab National Bank allows its patrons to execute five complimentary transactions at their ATMs on a monthly basis, within both metropolitan and smaller cities. Subsequent to utilizing these free transactions, customers are obligated to pay Rs 10 for cash withdrawals or when changing their ATM PIN.

State Bank of India (SBI) ATM Charges:

SBI provides the benefit of 5 cost-free transactions at ATMs for accounts holding balances surpassing Rs 25,000. This encompasses both financial and non-financial transactions. A fee of Rs 10 is applicable for any transactions conducted beyond this specified threshold. In the context of ATM withdrawals from SBI’s ATMs using cards issued by other banks, an additional charge of Rs 20 along with GST is imposed per transaction.

ICICI Bank ATM Charges:

ICICI Bank extends to its ATM cardholders the privilege of availing 3 complimentary transactions every month. Post utilization of this stipulated limit, a Rs 8.5 charge is levied on each non-financial transaction, while a fee of Rs 21 applies to each financial transaction.

HDFC Bank ATM Charges:

HDFC Bank grants its customers the facility of conducting 5 free transactions per month at its ATMs. Once this threshold is crossed, a charge of Rs 8.5 is enforced for each non-financial transaction, and a fee of Rs 21 applies for each financial transaction.

In spite of concerns surrounding potential market decline, Jeffrey’s has rendered a “buy” rating to Infosys. Delve into opinions pertaining to other IT stocks.

Leave a Reply