ATM Cash Withdrawal New Changes: See how much charge and tax will be imposed for withdrawing money from ATM, know all charges
ATM Cash Withdrawal Charges: All the big government and private banks across the country have made changes regarding cash withdrawal from ATMs. This fee will be 20 to 22 rupees.
ATM Cash Withdrawal Changes: Now withdrawing money from ATM has become more expensive. For every withdrawal transaction after the free withdrawal limit, you will have to pay a higher price than before. All the big government and private banks across the country have made changes regarding cash withdrawal from ATMs. This fee is 20 to 22 rupees. Different banks have imposed different rules and charges.
Know what are the new rules of which bank
ATM Cash Withdrawal: If the bar goes to metro cities, then the number of free transactions here is limited to 3. Cash withdrawal transactions over and above the free limit at SBI ATMs attract a charge of Rs 10. SBI charges Rs 20 per transaction for additional financial transactions at other bank’s ATMs. Apart from charges, applicable GST is also charged from the customer’s account.
ATM Cash Withdrawal: PNB gives free 5 transactions of the month in ATM. Also, for any financial transaction, a charge of Rs 10 has to be paid. Apart from PNB, the rules for transactions from ATMs of banks other than PNB are different. There is a rule of 3 free transactions in a metro city and 5 free transactions in a non-metro city in a month. There is a charge of Rs 20 for doing financial or non-financial transactions after the free limit from other bank’s ATMs.
HDFC Bank :
Only the first 5 withdrawals from HDFC Bank ATMs in a month are free. Rs 20 plus tax per transaction for cash withdrawal, Rs 8.5 plus tax for non-financial transactions. 3 free transactions are allowed in any other bank’s ATM in 6 metro cities (Mumbai, Delhi, Chennai, Kolkata, Hyderabad and Bengaluru) and 5 free transactions (financial and non-financial) are allowed at other locations in a month If there is not enough balance in other bank’s ATM or merchant outlet, if the transaction gets rejected, then a charge of Rs.25 will have to be paid.
5 transactions free from ICICI ATM in a month. After that ATM withdrawal has to be paid Rs 20 plus GST. This limit is for financial transactions while the charge for non-financial transactions is Rs 8.50 plus GST.
ATM Cash Withdrawal: 5 financial transactions in a month are free from Axis Bank ATMs. Financial and non-financial 3 transactions are free in metro cities. In other places 5 transactions in a month are free. If cash is withdrawn from Axis and Non-Axis ATMs outside the limit, then Rs 21 will have to be paid per transaction.
Earlier banks used to charge Rs 20 per transaction
The first 3 transactions are absolutely free on withdrawing money from the bank’s ATMs in six metro cities Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad. This includes both financial and non-financial transactions. Whereas in non-metro cities, you can withdraw money from ATM up to 5 times. After this, for financial transactions in metro cities, Rs 20 per transaction and Rs 8.50 was to be paid as non-financial transaction. Which has now been increased to 21.
Due to this increased transaction fee
The decision has been taken to increase the transaction fee due to the increase in the cost of banks related to installation and maintenance of ATM machines. At the end of the financial year 2020-21, there were 1,15,605 ‘onsite’ (in bank premises) ATMs and 97,970 ‘offsite’ (other than bank premises) ATMs across the country.