ATM Transaction Limit Big News: Transactions from ATMs of banks are not free, so much money is charged on more transactions

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ATM Transaction
ATM Transaction

ATM Transaction Charges Big News: According to a notification issued by the Reserve Bank of India in June last year, banks were allowed to charge Rs 21 per transaction at ATMs over and above the monthly free transaction limit with effect from January 1, 2022. Earlier, banks used to charge Rs 20 for such transactions.

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All the big banks of the country whether private or government, they provide free ATM transactions every month up to a fixed limit. After a free transaction (whether financial or non-financial) banks charge customers. The number of free transactions you have at your ATM will depend on the type of account and debit card you have. According to a notification issued by the Reserve Bank of India in June last year, banks were allowed to charge Rs 21 per transaction at ATMs over and above the monthly free transaction limit with effect from January 1, 2022. Earlier, banks used to charge Rs 20 for such transactions.

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5 free transactions allowed at your bank’s ATM

Customers can do 5 free transactions every month from their own bank’s ATMs while other banks’s ATMs can do 3 free transactions in a month. 5 free transactions can be done from ATMs of other banks in non-metro cities.
RBI has allowed banks to levy an interchange fee of Rs 17 per financial transaction and Rs 6 for every non-financial transaction at all centers with effect from August 1, 2022. Banks also levy ATM service charges to recover the cost of ATM installation and maintenance.

Let us tell you how much ATM charges SBI, PNB, HDFC, ICICI and Axis Bank charge.

know here State Bank of India ATM Transaction Limit and Charges

If a customer of another bank withdraws money from his debit card from SBI ATM after the limit, then State Bank of India will charge Rs 20 + GST ​​and 10 + GST ​​from its card holders.
For non-financial transactions, SBI will charge Rs.8+GST from other bank customers and Rs.5+GST from SBI account holders.
If there is not sufficient amount in the account then Rs 20 + GST ​​will be charged from the customer at SBI Bank ATMs and other bank ATMs.

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You can know here, ICICI Bank ATM Transaction Limit and Charges

The cash withdrawal limit for other bank ATMs transacting with ICICI Bank is Rs 10,000.
RBI has given 5 times free transaction facility. After this, the customer will have to pay Rs 21 for transactions and Rs 8.50 for non-financial transactions.
HDFC Bank ATM Transaction Limit and Charges

If customers of other banks withdraw money from HDFC Bank ATM with debit card, then they will be able to withdraw Rs 10000 at a time. Those with salary account will also get 5 free transactions with savings account.
If you withdraw money from HDFC Bank more than the prescribed limit, then the bank will charge you Rs 21 for financial transactions and Rs 8.50 + GST ​​for non-financial transactions.

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Know here, Axis Bank ATM Transaction Limit and Charges

If you withdraw money from Axis Bank ATM from other bank’s debit card, then you will withdraw 10000 rupees at a time.
A fee of Rs 20 will be charged for transactions exceeding the stipulated times.

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