ATM Service Charges: From withdrawing money from ATM to minimum balance, know the bank's charge, here

Bank ATM Service Charges: The number of withdrawals from ATMs every month is fixed by banks. If money is withdrawn from the account more than a certain number of times, then a separate charge is levied. It is important to understand the important information about how much money is charged on each additional transaction from the major banks of India.  

Nowadays everyone has a bank account bank account. Everyone keeps doing transactions with their bank account as well. At least everyone has to withdraw money from ATMs. But very few people know that the bank collects a certain amount as a service charge even after withdrawing money from the ATM and coming down from the minimum amount left in the account. Here, information is being given about the service charge of major banks of India, State Bank of India (SBI), ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank, Yes Bank etc.

The number of withdrawals from ATMs from a savings account every month is determined by banks. If money is withdrawn from these accounts more than a certain number of times, then its separate charges are taken. If a bank has fixed three transactions from the ATM in a month, then some bank has five. Axis Bank has four transactions free from ATMs in a month, while charging a maximum amount of two lakhs per month does not charge any charges. If the money is withdrawn in excess of this limit, the bank will charge an additional charge. From May 1, 10 rupees are charged on every 1000 for this.

Generally, the bank does not charge any money for withdrawing money from ATMs, five transactions from its ATMs and three transactions from other banks' ATMs. For example, SBI and ICICI Bank provides free account holder 8 facility in metro city. Five of them from their bank's ATMs and 3 from other bank's ATMs. If the money was withdrawn more than this, then an additional charge of 20 to 50 rupees is charged on each transaction.

Fail ATM transaction
Though RBI has been advised not to deduct any money on a failed transaction, but if there is no money in the account and money is being withdrawn from the ATM, then every failed transaction will be charged Rs 20 and GST will be charged on it.

The minimum balance
should be a fixed minimum amount in each savings account. If there is an account with ICICI Bank, then the minimum amount in the metro city is 10 thousand while in rural areas the minimum amount is 5 thousand. If less than this amount remains in the account, then the bank gets hundred rupees in penalty and 5 percent in other items. Similarly, SBI has declared minimum amount of Rs 3000 in metro, 2000 in urban areas and Rs 1000 in villages. If it is less than this, it charges 5 to 15 rupees and tax on it. However, due to Kovid-19, at present, SBI does not levy any charge on such account.

Debit Card Charge The
bank charges 50 to 500 rupees for losing a debit card. A charge is also levied on forgetting the ATM PIN.

Checks up to
one lakh rupees, the bank does not charge any money, but on the amount above one lakh, the bank charges a maximum charge of 150 rupees