The ATM withdrawal guidelines will change from Might 1, as directed by the Reserve Financial institution Of India. To simplify and standardise expenses, a number of main banks have already begun notifying account holders about revised charges and transaction limits.
RBI Pointers
The RBI’s up to date framework applies to all banks and brings in key modifications akin to:
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A cap on the variety of free ATM transactions per 30 days.
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A most price of Rs 23 (plus taxes) for every transaction past the free restrict.
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Inclusion of each monetary (money withdrawals) and non-financial transactions (stability enquiries, mini statements, PIN modifications) beneath the purview of chargeable occasions, relying on the financial institution.
The principles additionally prolong to Money Recycler Machines (CRMs), although money deposits won’t entice charges beneath this framework.
Below the brand new construction, clients can perform:
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Three free ATM transactions per 30 days in metro cities.
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5 free ATM transactions per 30 days in non-metro places.
These limits apply no matter whether or not the ATM belongs to the shopper’s personal financial institution or one other establishment.
HDFC Financial institution
As per HDFC Financial institution’s web site, from Might 1, the cost for ATM transactions past the free restrict might be revised from Rs 21 plus taxes to Rs 23 plus taxes. At HDFC Financial institution ATMs, solely money withdrawal transactions will entice expenses past the free utilization restrict. Non-financial transactions akin to stability enquiries, mini statements and PIN modifications will stay free. At non-HDFC Financial institution ATMs, each monetary and non-financial transactions might be counted in direction of the free restrict, and any extra utilization might be chargeable beneath the brand new fee construction.
Punjab Nationwide Financial institution
In line with the Punjab Nationwide Financial institution (PNB) web site, with impact from Might 9, 2025, buyer expenses for ATM transactions exceeding the free restrict at different banks’ ATMs might be revised to Rs 23 per monetary transaction and Rs 11 per non-financial transaction, excluding GST.
IndusInd Financial institution
IndusInd Financial institution is about to implement a flat price of Rs 23 for every money withdrawal made at non-IndusInd Financial institution ATMs, as soon as the shopper has exhausted their month-to-month free utilization. This modification will take impact from Might 1, 2025, and applies to all classes of shoppers together with these with financial savings, wage, NRI or present accounts.
Kotak Mahindra Financial institution
Beginning Might 1, Kotak Mahindra Financial institution will revise its ATM transaction expenses throughout each its personal ATMs and people of different banks. As soon as clients exceed their month-to-month free transaction limits, monetary transactions might be charged at Rs 23 (up from Rs 21), and non-financial transactions akin to stability enquiries or mini statements will value Rs 10 (up from Rs 8.50). The variety of free transactions supplied beneath particular account sorts or banking programmes stays unchanged. The revised expenses will solely apply to transactions past these free limits.
State Financial institution of India
State Financial institution of India (SBI) has taken a barely completely different method, having already revised its ATM coverage earlier this yr. Since Feb. 1, all SBI financial savings account holders are entitled to 5 free transactions at SBI ATMs, and 10 free transactions at ATMs of different banks, no matter whether or not the shopper resides in a metro or non-metro space.
What You Ought to Know
With modifications in ATM utilization expenses set to take impact, clients are urged to maintain a detailed watch on their transaction frequency, notably in metro cities the place the variety of free transactions is decrease. To keep away from incurring expenses of Rs 23 per transaction past the free restrict, it’s advisable to restrict pointless money withdrawals. Embracing digital banking alternate options can be inspired, as banks proceed to advertise lowered reliance on bodily money dealing with.
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