Banks Levy These Charges For ATM Card Transactions, Other Services
Major banks, from state-run State Bank of India (SBI) to private sector peers ICICI Bank and HDFC Bank, have set certain rules for making transactions at ATMs. These lenders offer a certain limited number of ATM card transactions free of cost every month. Customers exhausting the permitted number of free transactions in a particular month are charged for additional ATM transactions. Such ATM card charges levied by the banks depend on factors such as the type and nature of ATM - - whether the ATM belongs to the bank's own network or outside of it and whether it is located in a metropolitan or any other city within the country. Additionally, banks have also set certain charges for the issuance and annual maintenance of their ATM cards.
Here's a comparison of various types of ATM-cum-debit card charges levied by SBI, HDFC Bank and ICICI Bank:
State Bank of India (SBI)
SBI offers several types of ATM-cum-debit cards. These ATM cards enable customers to make cash withdrawals up to a certain limit. For example, SBI's Global International debit card allows customers to withdraw up to Rs 40,000 per day,
. Here are the various charges of SBI's ATM cards, according to bank's website - sbi.co.in:
| Debit Card Issuance Charges | Normal (Classic/Global) | Nil |
|---|---|---|
| Gold Debit Card | 100/- (including tax) | |
| Platinum Debit Card | 306/- (including tax) | |
| Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards) | Classic Debit Card | 100/- plus tax |
| Silver/Global /Yuva /Gold Debit Card | 150/- plus tax | |
| Platinum Debit Card | 200/- plus tax | |
| Pride/Premium Business Debit Card | 300/- plus tax | |
| Debit Card Replacement Charges | Rs.204/- (including tax) | |
| Duplicate PIN/ Regeneration of PIN | Rs.51/- (including tax) | |
| Domestic Transaction Charges | Transactions at State Bank Group ATMs | Free |
| Other Bank ATMs - Up to 5 Transactions during a calendar month (for savings bank account only) | Free | |
| Other Bank ATMs – Beyond 5 transactions(in Savings account) AND other than savings account: | ||
| Financial Transaction: | 17/- (including tax) | |
| Non-Financial Transaction | 6/- (including tax) |
HDFC Bank
HDFC Bank allows the first five transactions in a month free of cost at its own ATMs. In case of metro-ATMs of other banks, the bank allows the first three transactions in a month free of cost. In case of non-metro ATMs, the customers are allowed the first five transactions in a month free of cost.
Here are the various charges of HDFC Bank's ATM cards, according to bank's website - hdfcbank.com:
| ATM / DEBIT CARD RELATED CHARGES | |
|---|---|
| ATM card | No Charge |
| ATM card - Replacement charges | Replacement of a lost card - Rs. 200 (plus taxes) |
| ATM card - Transaction charge - non HDFC Bank domestic ATMs | No Charge up to the permitted limit (effective 1st Dec 2014) |
| Debit Card - Annual Fee - Regular | Rs. 150 per year (plus taxes) (w.e.f. 25th Dec'14) |
| Debit Card - Renewal Fee - Regular | Rs. 150 per year (plus taxes) (w.e.f. 25th Dec'14) |
| Debit Card - Annual Fee - Platinum | Rs. 750 per year (plus taxes) (w.e.f. 1st June'15) |
| Debit Card - Renewal Fee - Platinum | Rs. 750 per year (plus taxes) (w.e.f. 1st June'15) |
| Debit Card - Replacement charges | Replacement/Reissuance Charges for Debit Cards - Rs.200 plus applicable taxes |
| Add-on debit card - Regular | One add-on card - No Charge for the first year |
| Rs. 150 per year (plus taxes) (w.e.f. 25th Dec'14) | |
| Debit Card - Transaction charge - HDFC Bank ATMs | No Charge |
| Debit Card - Transaction charge - non HDFC Bank domestic ATMs | First 5 Transactions Free across all Cities |
| Transactions over and above free limit will be charged as under: | |
| Cash withdrawal - Rs. 20 plus applicable taxes (W.e.f 1st Nov'17) | |
| Non-Financial Transaction - Rs. 8.5 plus applicable taxes (W.e.f 1st Nov'17) | |
| PIN regeneration charge | Rs. 50 (plus taxes) |
| Number of Cash transactions | 4 free cash transactions per month |
| (Cumulative of Deposit and Withdrawal) | 5th transaction onwards - Rs.150/- per transaction plus applicable taxes (W.e.f 1st Nov'17) would be levied |
| Value of Cash transactions | Any HDFC Branch |
| (Cumulative of Deposit and Withdrawal) | 2 lakh - Free per month per account. |
| Above 2 lakh - Rs.5/- per thousand or part thereof, subject to a minimum of Rs.150/- plus applicable taxes (W.e.f 1st Nov'17) | |
| Third party Cash transaction | Upto a limit of Rs.25,000/- per day - Rs.150/- plus applicable taxes (W.e.f 1st Nov'17) |
| (Cumulative of Deposit and Withdrawal) | Above Rs.25,000/- not allowed |
ICICI Bank
For transactions at ICICI Bank ATMs, the bank allows the customer the first 5 transactions in a month free of cost. Individuals are permitted to make the first three transactions in a month free of cost at a non-ICICI Bank metro ATM. In case the ATM is located in any other city within the country, the bank allows five transactions a month without any charges.
Here are the various charges of ICICI Bank's ATM cards as stated on bank's website - icicibank.com:
| Transaction type | Transaction charges |
|---|---|
| Joining Fee | Rs. 250 + GST as applicable |
| Annual Fee | Rs. 250 + GST as applicable |
| Lost card replacement | Rs. 199 + GST as applicable |
| Cash withdrawal from ICICI Bank ATM's | Free |
| Cash withdrawal from Non ICICI Bank ATM's | Rs. 20 per withdrawal + GST as applicable |
| Balance Inquiry from ICICI Bank ATM's | Free |
| Balance Inquiry from Non ICICI Bank ATM's | Rs. 8 per inquiry + GST as applicable |
India Post, which has a network of more than 1.5 lakh post offices across the country, also offers an ATM card facility with its savings accounts.