Some banks and payment service platforms have introduced changes to ATM cash withdrawal facilities from April 1. With these updates, customers should note revised limits, possible transaction charges and updated usage rules. Understanding how this impacts finances is important as it can affect daily cash access, budgeting and banking costs.
HDFC Bank and Punjab National Bank have announced changes to their ATM-linked transactions from April 1.
HDFC Bank has informed its customers that UPI-based cash withdrawals at ATMs will be included in the monthly free transaction limit from April 1. Earlier treated separately, these withdrawals will now count toward the total number of free ATM transactions allowed each month.
The bank said customers who exceed the free transaction limit will be charged Rs 23 per withdrawal. This value is exclusive of applicable taxes. This change means users need to track both regular and UPI ATM withdrawals together to avoid extra charges.
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For HDFC Bank customers, current free ATM withdrawal limits vary by location. Most account holders get 5 free transactions per month at HDFC Bank ATMs. At other banks' ATMs, they get 3 free withdrawals in metro cities and 5 free withdrawals in non-metro locations each month.
Separately, Punjab National Bank has announced changes to ATM withdrawal limits for select debit cards, effective April 1. The bank said daily limits will be revised for certain categories. With this, customers will be able to withdraw up to Rs 50,000 or Rs 75,000 per day, depending on their card type, instead of the higher earlier limits. For instance, the RuPay NCMC Platinum Domestic Debit Card limit has been reduced from Rs 1,00,000 to Rs 50,000. Similar changes apply to RuPay NCMC Platinum International and RuPay Women Power Platinum debit cards, as well as other cards.
Meanwhile, Jio Payments Bank has announced that its new service lets customers withdraw cash by scanning a UPI QR code and authorising the transaction through a UPI app. The company said the service would be available through its business correspondent (BC) touchpoints.
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