Financial institutions were allowed by the RBI to bill 21 per each extra transaction at the atm machine beyond the regular monthly free limitation, effective from 1 January 2022.
All major banks, both in the general public and private sector, allow a restricted variety of totally free transactions at the Atm machines monthly. Past the free transactions, which include financial and non-financial services, the lending institutions impose a cost with applicable tax obligations.
The variety of free transactions at the Atm machines might differ on the kind of account and also the debit card you hold.
Utilizing the ATMs beyond the acceptable limit of free month-to-month deals will certainly be chargeable.
According to an alert released by the Get Bank of India in June in 2015, the banks were allowed to bill 21 per deal at the atm machine above the monthly cost-free transaction limit, reliable from 1 January 2022.
Previously, the financial institutions were allowed to bill 20 for each such transaction.
Consumers are enabled 5 totally free purchases at their financial institution ATMs monthly, as well as the limitation is 3 free purchases for various other bank ATMs. Customers in non-metro centres can get five free transactions at other financial institution ATMs.
The RBI permitted banks to impose an interchange charge of 17 per monetary transaction and 6 for each non-financial transaction in all centres starting 1 August 2022.
The financial institutions gather ATM service charges to fulfill the raising ATM installment and upkeep prices.
All the significant financial institutions also bill an annual cost on debit cards or bank card, relying on the type of card a customer has.
Below’s a comparison of numerous kinds of atm machine charges imposed by SBI, PNB, HDFC Financial Institution, ICICI Bank and also Axis Financial Institution:
State Bank of India (SBI)
| Sl.No | Particulars | Charges | Rs |
| 1 | Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards) | Classic Debit Card | ₹ 125/- plus GST |
| Silver/Global Contactless Debit Card | ₹ 125/- plus GST | ||
| Yuva / Gold /Combo / My Card (Image) Debit Card | ₹ 175/- plus GST | ||
| Platinum Debit Car | ₹ 250 plus GST | ||
| Pride/Premium Business Debit Card | ₹ 350 plus GST | ||
| 2 | Debit Card Replacement Charges | ₹ 300/- plus GST | |
| 3 | Duplicate PIN/ Regeneration of PIN | ₹ 50/- plus GST | |
| 4. Domestic Transaction Charges (At ATM) | |||
| Average Monthly Balance (AMB) in Savings Bank | Number of free transactions per month (Both Financial and Non-financial) | ||
| Other Bank ATMs | |||
| In 6 Metro Centers | In 6 Metro Centers | Our Bank ATM | |
| Upto ₹ 25,000/- | 3 | 5 | 5 |
| Above ₹ 25,000/- upto ₹ 50,000/- | 3 | 5 | Unlimited |
| Above ₹ 50,000/ – upto ₹ 1,00,000/- | 3 | 5 | |
| Above ₹ 1,00,000/- | Unlimited | Unlimited | |
| Charges for financial transactions beyond the set limit | ₹ 20 + GST | ₹ 10 + GST | |
| Charges for non-financial transactions beyond the set limit | ₹ 8 + GST | ₹ 5 + GST | |
| Transaction decline due to insufficient balance | ₹ 20 + GST | ₹ 20 + GST | |
| $ Namely, Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad | |||
| 5 | SMS Alert charges per quarter from Debit Card holders who maintain average quarterly balance of ₹ 25000/- & below during the quarter. | ₹ 12 (incl. GST | |
Punjab National Bank
| ATM CUM DEBIT CARD CHARGES / PREPAID CARD CHARGES | ||||||||
| Variant | Classic (Rupay/VISA) / Rupay Platinum (Domestic/ International/ JCB International) | Visa Gold / Rupay International | Rupay Select Debit Card | Prepaid | ||||
| Card issuance charges | Primary | |||||||
| Nil | ₹ 250 | ₹ 250 | ₹ 50 | |||||
| Add on Card | ||||||||
| ₹ 150 | NA | |||||||
| Annual Maintenance Charges | ₹ 150 (From 2nd year onwards as 1st year charges are free)
₹ 250 (Platinum Domestic/ Platinum International / JCB International from 2nd year onwards as 1st-year charges are free w.e.f 16-11-2021). For Debit Cards issued prior to 16-11-2021, previous AMC charges ₹150 shall prevail. ₹ 500 (Rupay Select Debit card till 31.03.2022 w.e.f. 16-11-2021, NIL for staff members). For Select Debit Cards issued prior to 16-11-2021, previous AMC charges ₹ 400 shall prevail. (Nil for Classic- KCC / Classic-Mudra/ Classic – PMJDY) |
For cards having balances above ₹ 500 on the date of expiry of card, Annual Maintenance fee of ₹ 150 will be levied & account will be maintained for one additional year, thereof. In case, balance goes below ₹ 500, the entire balance will be forfeited and card will be closed. | ||||||
| Card Replacement Charges
(Duplicate Issuance) |
₹ 150/- | |||||||
| Duplicate PIN/ Regeneration of PIN through Branch | ₹ 50 (for request through branch; Exempted for Govt. Sponsored Scheme
Nil (if done through Green Pin at ATMs) |
|||||||
| Transaction declined due to insufficient Balance | ₹ 15 (charges are applicable to staff also) | |||||||
| For use of Bank’s own ATMs located in Metro and Non-Metro Areas |
|
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| For use of other Bank’s ATMs located in Metro and Non-Metro Areas |
Ø ^viz. Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad Ø Above charges are applicable to staff also. |
||||||||||||||||
HDFC Bank
| Revised ATM Charge Structure | |||
| Account Type | No of Free Transactions per month at HDFC Bank ATMs | No of Free Transactions per month at other Bank ATMs | Charges beyond prescribed limit of free transactions |
| Savings & Salary Account | Free Transactions -5 | At Metro ATMs : 3 Free Transactions
At Non Metro ATMs:- 5 Free Transactions |
Cash Withdrawal – ₹ 21 plus applicable taxes
Non-Financial Transaction – ₹ 8.50 plus applicable taxes |
| Current Account (Activ, Ascent, Max Advantage, Plus, Professionals, Ecomm, SmartUp Alpha, SmartUp Growth, SmartUp Max, Utlima, Apex, Max, Flexi, Merchant Advantage Plus, Supreme) |
Unlimited | At Metro ATMs – 3 Free Transactions
At Non Metro ATMs – 5 Free Transactions |
Cash Withdrawal & Non-Financial Transaction – ₹ 21 plus applicable taxes |
| Current Account (Regular, Premium,Trade, Merchant Advantage, Ezee, Current Account for Hospitals/Nursing Homes/Pathology Labs) | Unlimited | Charged from 1st transaction onwards | Cash Withdrawal & Non-Financial Transaction – ₹ 21 plus applicable taxes |
ICICI BANK (Regular Savings Account)
| Service Charges | |
| Cash Transaction Charges Home Branch (Branch where the account is opened or ported) (Deposits and withdrawals across branches and deposits in Cash Recycler Machines considered.) |
1) Number Limit (Sum total of deposits and withdrawals) ₹ 150 per transaction, post 4 free cash transactions per month.2) Value Limit (Sum total of deposits and withdrawals) ₹ 5 per ₹ 1,000, post-free limit of ₹ 1 lakh, per month or ₹ 150, whichever is higher.a) Non-Home branch – ₹ 5 per ₹ 1,000, for transaction value above ₹ 25,000 at non-home branch in a day or ₹ 150, whichever is higher. b) Third-party cash transactions charged at ₹ 150 per transaction. Per transaction value capped at ₹ 25,000. |
| ATM Interchange (Transactions at Non ICICI Bank ATMs) | 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad): ₹ 21 per financial transaction & ₹ 8.5 per non-financial transaction, post 3 transactions (inclusive of financial and non-financial transactions). Other than 6 metro locations: ₹ 21 per financial transaction and ₹ 8.5 per non-financial transaction, post 5 transactions (inclusive of financial and non-financial transactions). Maximum of 5 transactions free in a month, across locations, with a cap of 3 transactions at 6 metro locations. |
| Transactions at ICICI Bank ATMs / Cash Recycler Machines (cash withdrawals) | ₹ 21 per financial transaction, post 5 transactions. All non-financial transactions are free. (Financial transaction includes – Cash Withdrawal; Non Financial transactions include – Balance Inquiry, Mini statement & Pin change) |
| Debit Card Fees annual fees | ₹150 For Gramin locations – ₹ 99 |
https://www.icicibank.com/service-charges/regular-savings-account
Axis Bank (Easy Access Saving Account)
| Daily withdrawal limit and Shopping limit
|
Daily ATM Withdrawal Limit of ₹ 50,000, Daily POS transaction Limit of ₹ 1,25,000.Effective 1st Dec’19 – Introduction of Transaction Decline Fee at POS terminals due to insufficient funds in Savings account: ₹ 25
|
| Monthly Cash Transaction Free Limits (Metro/Urban) | First 4 Transactions or ₹ 1.5 lakhs whichever is earlier. Cash Transactions at Non-Home Branch : Cash transactions upto ₹ 25,000/- per day, exceeding which ₹ 5/- per thousand or part thereof, subject to a minimum of ₹ 150/- to be charged. |
| Monthly Cash Transaction Free Limits (Metro/Urban) | First 4 Transactions or ₹ 1.5 lakhs whichever is earlier. Cash Transactions at Non-Home Branch: Cash transactions up to ₹ 25,000/- per day, exceeding which ₹ 5 per thousand or part thereof, subject to a minimum of ₹ 150/- to be charged |
| Fees on Cash Deposits and Withdrawals above limits
|
Self – ₹ 5 per ₹ 1000 or ₹ 150, whichever is higher, Third Party – ₹ 10 per ₹ 1000 or ₹ 150, whichever is higher
|
| Transaction Charges on Cash Deposit Transaction done at Cash Deposit Machine
|
₹ 50 per transaction after banking hours (i.e. Between 5:00 pm to 9:30 am) and on Bank/State Holidays for deposits exceeding 2 transactions or ₹ 5,000 per month (either single or multiple transaction), whichever is earlier.
|
| Axis Bank ATM: No. of Free Transactions
|
First 5 Financial transactions Free and Unlimited Non-financial transactions
|
| Non – Axis Bank ATM : No of Free Transactions
|
First 3 transactions (Financial + Non Financial) free in Metro Locations (Mumbai, Delhi-NCR, Chennai, Kolkata, Bangalore and Hyderabad ) or First 5 transactions (Financial + Non Financial) free in all Other Locations.
|
| Axis/Non-Axis ATM: Cash Withdrawal (Financial transaction) fees beyond limits
|
₹ 21 per transaction
|
| Axis/Non-Axis ATM: Balance Enquiry (Non-Financial transaction) fees beyond limits
|
₹ 10 per transaction
|
| Maximum transaction count limit on ATM transaction
|
Maximum monthly transaction count limit of 30 transactions (Financial + Non-Financial) per month. Post transaction limits, ₹ 21 per Financial transactions on Axis Bank and (Financial + Non-Financial) non-Axis Bank ATMs |
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Resources: NDTV
Last Updated: 17 August 2022
