ATM is something that we use very often especially for withdrawing cash from our account. There are a lot of bank ATMs available throughout the world that can be used to withdraw money using a debit or credit card.
This however attracts charges levied upon the customer by banks to provide these banking services. In this article, we will discuss ATM Transaction Charges: New Charges, Withdrawal Rules, Withdrawal limits, etc.
ATM Transaction Charges
RBI has recently increased the interchange fee per transaction from ₹15 to ₹17 for financial transactions which is Rs.2 increase in the charges. For non-financial transactions, the new charges have been changed from ₹5 to ₹6 in all centers.
There is also a ceiling on customer charges for transaction fees charged by the bank which is ₹20 per transaction. The bank cannot charge the customer more than Rs.20 per transaction.
ATM Withdrawal Limits
The withdrawal limits are imposed by the banks and depend on the type of account and the type of debit/credit card you are using. Each bank has a different withdrawal limit. The following are some banks with the withdrawal limit-
Varies from country to country, subject to a maximum of foreign currency equivalent of ₹ 40,000/-
Daily Point of Sales/ Online Transaction Limit
Minimum
No such limit
No such limit but subject to local regulations.
Maximum
Rs. 75,000/-
PoS Transaction Limit: Varies from country to country, subject to a maximum of foreign currency equivalent of ₹ 75,000/-
Online Transaction Limit: Maximum per transaction and month limit of foreign currency equivalent of ₹ 50,000/-, available only at select international online websites.
ICICI ATM Withdrawal Limit & Rules
State Bank Classic Debit Card
Domestic
Daily Cash Limit at ATMs
Minimum
Rs. 100/-
Maximum
Rs. 1,00,000/-
Daily Point of Sales/Online transaction limit
No such limit
ICICI Bank International Debit Card transaction fees