Post Office ATM Rules: Cash Withdrawal Charges, Transaction Limits, Other Details
India Post or Department of Post offers several types of accounts such as saving account, fixed deposit account, senior citizen savings scheme (SCSS) account and recurring deposit account. The saving account of India Post, which has a network of more than 1.5 lakh post offices across the country, also comes with an ATM facility. Post office savings account can be opened by paying a minimum of Rs 20. India Post pays interest at the rate of 4 per cent per annum on deposit in its savings account, according to India Post's website - indiapost.gov.in.
Here are the ATM transaction limits and charges applicable to India Post accounts:
1. India Post permits cash withdrawals up to Rs 25,000 per day through its ATM card. A cash withdrawal limit of Rs 10,000 per transaction is applicable, according to India Post's website.
2. Department of Post offers five transactions free of cost at its ATMs. This includes financial and non-financial transactions carried out at post office ATMs.
3. Post office allows three free transactions in a month from its debit card when used at ATMs of other banks in metro cities. In non-metro cities, the upper limit for free transactions is five.
| India Post (post office) ATM transaction limits/charges | |
|---|---|
| Daily ATM cash withdrawal limit | Rs 25,000 |
| Cash withdrawal limit per transaction | Rs 10,000 |
| Charges for transactions done at DOP ATMs | Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day |
| Permissible free transactions at other Bank ATMs (per month) |
Metro Cities - 3 free transactions (Both Financial & Non Financial) Non Metro Cities - 5 free transactions (Both Financial & Non Financial) |
| Charges after exceeding permissible free transaction limit at other Bank ATMs | Financial & Non Financial Transactions - Rs 20 + Applicable GST |
(As mentioned on India Post's official website)
4. In metros as well as non-metro cities, the prescribed limits are inclusive of financial and non-financial transactions.
5. At other banks' ATMs, any transaction beyond the prescribed number of free transactions will be chargeable at Rs. 20 plus applicable GST (Goods and Services Tax), according to India Post.