ATM Withdrawal Limits Rules: In this world today, where online payments have taken the lead, cash still has a very important role to play in the daily lives of humans. What if I yelled, did you know that an ATM has a daily withdrawal limit? It doesn’t know cash is essential to one. Exceeding these limits or being careless can easily lead you to unnecessary hurdles and charges, so let’s check out the ATM withdrawal limits of the biggies – State Bank of India (SBI), ICICI Bank, HDFC Bank, Punjab National Bank (PNB) and many more-with all the rules you need to know to avoid losses.
State Bank of India (SBI) ATM Withdrawal Limits
SBI offers varying withdrawal limits based on the type of debit card you hold:
- Regular Visa Debit Card: ₹40,000 per day
- International Visa Debit Card: ₹1 lakh per day
- MasterCard Debit Card: ₹25,000 per day
- Platinum MasterCard: ₹75,000 per day
- RuPay Debit Card: ₹40,000 per day
ATM Withdrawal Rules by ICICI Bank
In general, ICICI Bank sets a withdrawal limit of ₹50,000 as the maximum amount withdrawn daily for all debit cardholders. Here, consider the fact that after the limit of free transactions, every additional transaction from an ATM attracts a fee of ₹20.
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HDFC Bank ATM Withdrawal Limit
Similar to ICICI Bank, HDFC Bank allows a daily limit of ₹50,000 for debit cardholders. In the post-free transaction limit, the bank charges a nominal fee of ₹20 for every additional withdrawal.
Punjab National Bank (PNB) Withdrawal Rules
PNB has defined different withdrawal limits for different card categories:
- Basic Cards (RuPay, Visa Classic): ₹25,000 per day
- Premium Cards (Visa Signature, RuPay Select): ₹1,50,000 per day
Hence premium cardholders are beneficial because they can access higher cash withdrawal limits and prove useful in larger cash consumption needs.
Bank Of India (BOI) ATM Limits
BOI also has a system of tiers for withdrawal limits.
- Standard Cards (RuPay, MasterCard)- ₹15,000 per day
- Premium Cards- Up to ₹50,000 per day
Federal Bank ATM Withdrawal Rules
Federal Bank has a vast variety of limits on withdrawal according to the types of cards:
- Basic Cards (Fed First Contactless): ₹2,500 per day
- Premium Cards (Visa Imperio, Mastercard Crown Contactless): ₹75,000 per day
Important Rules to Remember
- Withdrawal Fees: If you withdraw more than ₹20,000 from an ATM belonging to your bank, then a per transaction fee of ₹25 will apply. However, for other banks’ ATMs, the charge will go to ₹30 per transaction.
- Plan Your Withdrawals: Plan your cash needs during the free transaction limit allowed by your bank to avoid any extra charges.
- Know Your Card Type: Premium cards usually offer higher withdrawal limits so know what advantages your card has.
Why knowing such limits is important?
The limits and rules of ATM withdrawals of your bank can save you from unexpected fees or mismanaging your money. Whether you are using SBI debit cards, cards from ICICI Bank, or any other bank, being aware will make your money withdrawal hassle-free.
Stay updated with these rules to avoid unnecessary loss and maximize every bit of your banking experience. So next time you go to the ATM, remember all these limitations, and withdraw wisely!
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