ATM Cash Withdrawal Charges: All the public sector banks of the country provide free facility of transactions to their customers from a fixed number of ATMs every month. If any customer exceeds the limit of free usage fixed in a month, then he has to pay a charge for every use of ATM, whether the usage is financial or non-financial.
According to the new guidelines of the Reserve Bank of India, the customer of any bank has to pay a maximum charge of Rs 21 on the maximum withdrawal amount. Explain that maximum 5 free transactions are allowed from ATMs in a month by most of the banks.
One thing is also to be understood that the transaction limit is not carried over to the next month. Means, if you use ATM twice this month, you will get free use only five times, not eight times in the next month.
Punjab National Bank ATM
Punjab National Bank allows you to do five free transactions per month at its ATMs in metro and non-metro areas. After this, customers have to pay a charge of Rs 10 for financial or non-financial use.
PNB offers three free transactions in metro cities and five in non-metro cities at ATMs of other banks. After this, customers have to pay Rs 21 plus taxes for financial transactions and Rs 9 plus taxes for non-financial transactions.
State Bank Of India
State Bank of India offers five free transactions at its ATMs for average monthly balance above Rs.25,000. This includes both non-financial and financial. For financial transactions beyond this limit, SBI charges a fee of Rs 10 along with GST at the ATM. Whereas, at ATMs of other banks, it is Rs 20 plus GST per transaction.
ICICI Bank ATM
ICICI Bank gives 3 free transactions per month to its ATM holders, 5 in non-metro areas and 6 in metro areas. After that, Rs 8.5 is charged for every non-financial transaction and Rs 21 for every financial transaction at ICICI Bank ATMs.
HDFC Bank ATM
There is a limit of 5 free transactions per month at HDFC Bank ATMs. For non-bank ATMs, the limit is 3 transactions in metro areas and 5 transactions in non-metro areas. After exceeding the limit, customers will be charged Rs 21 for every financial transaction and Rs 8.5 for every non-financial transaction.
Bank wants to promote digital transactions
Many measures are being taken by banks to promote digital transactions. Under this, banks are also providing their apps for people to make cash lanes. Apart from this, from Google Pay to Paytm, people are helping in this matter.
what is digital transaction
Digital transaction is a type of financial transaction process in which digital platforms, based systems and technologies are used to make it easy and technological to support and manage financial transactions.
It means that the process of financial transaction, transfer of money, collection of money, or payment of money is conducted by electronic means. Digital transactions have played a vital role in making financial services processes simpler, faster, and safer
