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ATM Charges Levied By Top Banks For Cash Transactions And Other Services

Major banks, from State Bank of India (SBI) to ICICI Bank, have certain rules applicable to their customers for making transactions at ATMs.

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ATM Charges Levied By Top Banks For Cash Transactions And Other Services

ATM card: Top banks today allow few ATM transactions every month without any charges


Highlights

  1. SBI allows up to 13 transactions a month free of cost.
  2. HDFC Bank allows first 5 transactions in a month free of cost at its ATMs
  3. One can make 5 free transactions in a month in ICICI Bank ATMs.

Top banks in the country today offer a limited number of ATM transactions free of cost every month. Major banks, from state-run SBI to private sector lenders ICICI Bank and HDFC Bank, have certain rules applicable to their customers for making transactions at ATMs. After the customer exhausts the permitted number of free transactions in a month, these ATM charges apply depending on the type - whether it belongs to the same bank where the customer's account is located or some other bank - and nature of ATM - whether the ATM is located in a metropolitan or any other city in the country.

Here's a comparison of these ATM charges that customers have to bear for making any ATM transactions beyond the permissible limit in a month:

SBI

State Bank of India (SB) allows unlimited transactions free of cost at its group ATMs for customers maintaining a monthly average balance above Rs 25,000 in the previous month, according to the bank's website - sbi.co.in. In case of a lesser monthly average balance in the previous month, SBI allows up to 13 transactions a month free of cost, depending on factors such as whether the ATM belongs to the State Bank group or any other bank and the location of the ATM. SBI charges a fee ranging from Rs 5 plus GST to Rs 20 plus GST for any additional transactions beyond these limits, depending on factors such as the nature of transaction and type of ATM.

ICICI Bank

Individuals holding a regular savings account with ICICI Bank are permitted to make the first three transactions in a month at a non-ICICI Bank ATM located in Mumbai, Delhi, Chennai, Kolkata, Bengaluru or Hyderabad free of cost, according to the bank's website - icicibank.com. These transactions include those of financial and non-financial nature. In case the ATM is located in any other city within the country, the bank allows five transactions a month without any charges.

For transactions in ICICI Bank ATMs, the bank allows the customer the first first 5 transactions in a month free of cost. These include financial and non-financial transactions.

In both cases, ICICI Bank charges a fee of Rs 20 per financial transaction and Rs 8.50 per non-financial transaction for any additional transactions.

HDFC Bank

HDFC Bank allows customers holding regular savings accounts with the bank the first five transactions in a month free of cost at its own ATMs, according to the bank's website - hdfcbank.com.

In case of ATMs of other banks, the bank allows the first three transactions in a month free of cost in ATMs located in Mumbai, Delhi, Chennai, Kolkata, Bengaluru or Hyderabad. In case of other banks' ATMs located outside these six metros, the customers are allowed the five five transactions in a month without any charges.

Any financial transactions - meaning transactions involving cash withdrawal - above these stipulated limits in a month - either at HDFC Bank ATMs or ATMs of other banks - are charged at Rs 20 plus taxes per transaction. Non-financial transactions above the permitted free transactions in a month are charged at Rs. 8.5 plus taxes per transaction.



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