Bank News: Customers of SBI, HDFC, ICICI, and Axis Bank should be aware that they will now need to pay this amount in order to withdraw cash from an ATM

 Bank News: Customers of SBI, HDFC, ICICI, and Axis Bank should be aware that they will now need to pay this amount in order to withdraw cash from an ATM

Important news for bank account holders about the bank update. It is crucial that you read this news, particularly if you have an account with SBI, HDFC, ICICI, or Axis Bank. In fact, these bank account holders will now be required to pay this amount in fees when they take out cash from an ATM.

Changes have been made to ATM Cash Withdrawal policies by all major government and commercial banks nationwide. If you take out more cash from an ATM in a month than is recommended, you will now be charged extra. This will cost between Rs 20 and Rs 22.

3 Free transactions

Both financial and non-financial services are included in ATM withdrawals. Three transactions are typically free each month. Following this, several banks implemented policies and fees.

A set fee of Rs 21 for each transaction

The Reserve Bank of India said in a circular last year that withdrawals exceeding the monthly free transaction will incur a cost of Rs 21 per transaction. The new regulation is operative as of January 1, 2022. Be aware of the restrictions and fees associated with using some large banks' ATMs. SBI, PNB, HDFC, ICICI Bank, and Axies Bank are some of these banks.

This SBI maximum limit is

The maximum number of free transactions for other bank ATMs is three for those situated in the six major cities of Delhi, Kolkata, Mumbai, Chennai, Bengaluru, and Hyderabad. Unlimited activities at SBI ATMs were formerly accessible to accounts having a monthly minimum balance (ABM) of Rs 25,000; going forward, this option would only be available to clients who maintain an ABM of Rs 50,000. In major cities, there may be no more than three complimentary transactions.

This alteration took place:

For transactions that exceed the free limit, SBI charges between Rs 5 and Rs 20, depending on the ATM. Customers have been charged Rs 5 at SBI ATMs and Rs 8 at other bank ATMs for other types of transactions that exceed the free limit, in addition to the relevant GST rates. At SBI ATMs, cash withdrawals that exceed the free limit are subject to a fee of Rs 10. SBI charges Rs 20 per transaction for extra financial transactions made at ATMs operated by other banks. The customer's account is further billed with the appropriate GST in addition to the fee.

A 20 rupee fee in PNB

PNB offers five complimentary ATM transactions each month. All financial transactions also need the payment of an additional Rs 10. Transactions at ATMs owned by banks other than PNB are subject to various regulations. Three free transactions in a metro area and five free transactions in a non-metro area are allowed each month. If you use an ATM from another bank to conduct financial or non-financial activities above the free limit, there is a fee of Rs 20. This is not how international transactions are governed. There is a fee of Rs 150 plus any relevant taxes for overseas cash withdrawals. International balance inquiries are charged at a rate of Rs 15 + any relevant taxes.

Bank HDFC:

The only no fee for withdrawals from the HDFC Bank ATM in a month are the first five. For cash withdrawals, the fee is Rs 20 plus taxes per transaction; other non-financial transactions, it is Rs 8.5 plus taxes. Any other bank's ATMs permit three complimentary transactions each month in the six major cities (Mumbai, Delhi, Chennai, Kolkata, Hyderabad, and Bengaluru) and five complimentary transactions (financial and non-financial) in other areas. As. Re-generating a debit card PIN costs Rs 50 (plus any relevant taxes). You will be charged for the same transaction if it refuses because you do not have any money in your deck account. A fee of Rs 25 will need to be paid if the transaction is refused because there is not enough money in the ATM or merchant outlet of another bank.

Rs. 20 from ICICI + GST

The account holder's daily cash withdrawal limit is determined by the kind of card and account they have. Between Rs 50,000 and Rs 1.5 lakh is the range. There is a Rs 10,000 limit per withdrawal if it is done from an ATM owned by a bank other than ICICI Bank. Every month, ICICI ATMs provide five free transactions. After that, each successive ATM withdrawal would need payment of Rs 20 + GST. The price for non-financial transactions is Rs 8.50 + GST, whereas this limit applies to financial transactions.

Axis Bank levies fees of Rs 21.

The daily POS transaction limit is Rs 1,25,000 and the daily cash withdrawal limit is Rs 50,000. A fee of Rs 25 will be incurred if the transaction is declined due to insufficient funds in the account. The free limit is the first four cash transactions of the month or Rs 1.5, whichever comes first. In non-home branches, you may withdraw up to Rs 25,000 in cash for free each day. Over this amount, a payment of Rs 5 per thousand would be required. There are distinct regulations for making larger cash deposits or withdrawals.

When you make a deposit or withdrawal from your account, you will be required to pay a fee of either Rs 150 or Rs 5 for every thousand. There will be a fee of Rs 10 per thousand or Rs 150, whichever is greater, for deposits made into third-party accounts. Axis Bank ATMs provide free financial transactions for up to five per month, as well as unlimited non-financial transactions. In big cities, both financial and non-financial transactions are free. Five transactions are free each month at other locations. In the event that an Axis or non-Axis ATM's cash limit is exceeded, an additional Rs 21 will be charged for each transaction.