Social media is filled with talks about new charges applicable for ATM withdrawals since yesterday. There were headlines that customers will get just 4 free withdrawals every month and will have to pay ₹ 150 from the 5th transaction onward, no matter whether the transactions are from ATMs or banks. But it’s a HOAX!
It seems people are disappointed with constant changes in rules that are happening post demonetization, due to which they have spread these rumors. Nowadays, we all know that people believe in what circulates over social media. Even in this case, people blindly believed that they will have to pay ₹ 150 per transaction after 4 free withdrawals from ATMs.
This is a shocking news for those people who depend on ATM withdrawals for their daily cash needs. Even big media houses started covering this news, thereby confusing people even more. Let us clear your doubts and tell you the truth…
Charges applicable on ATM withdrawals!
No, you won’t have to pay ₹ 150 on cash withdrawals from ATM. These charges are applicable only on withdrawals from the bank. These banks will allow you to make certain free transactions (Number varies), beyond which charges would be applicable. ₹ 150 per transaction has nothing to do with ATMs.
How much do we have to pay for ATM withdrawals?
Talking about ATM withdrawals from ICICI & HDFC banks, you will have to pay just ₹ 23 per transaction (Rs 20 + taxes) after your free transactions get over. On the other hand, you need to pay ₹ 8.50 for non-financial transactions (Balance query, PIN change, mini-statement). HDFC clarified that these charges (Rs 150 per transaction) are applicable only for transactions at the branch and not ATMs; check out the tweet..
Clarification, Click on the link for more details: https://t.co/4d1nNeC3B0 pic.twitter.com/X6lhkt2Y6q
— HDFC Bank (@HDFC_Bank) March 2, 2017
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Charges applicable at HDFC branches, not applicable for ATM transactions…
Here’s an ICICI bank’s clarification on twitter…
@vineetagarwal27 Hi, this information is incorrect. We do not charge Rs 150/txn for transactions at ICICI Bank ATMs. Here is the link 1/3
— ICICI Bank Cares (@ICICIBank_Care) March 3, 2017
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When you visit the official website of ICICI bank, you will come to know about the exact ATM charges. Here are the official rules for ATM charges;
1. First 3 transactions (inclusive of financial and non financial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad) in a month – Free.
2. First 5 transactions (inclusive of financial and non financial)in all other locations in a month – Free.
3. Maximum of 5 trxns free in a month with a cap of 3 free trxns in 6 metro locations. Thereafter, Rs.20 (exclusive of service tax) per financial transaction and Rs. 8.50 (exclusive of service tax) per non financial transaction.
For cash transactions (deposits & withdrawals) in banks, they have these new guidelines for ICICI…
Other banks like Axis and SBI have not yet updated the details on their websites but most probably their charges would also be similar to that of ICICI & HDFC banks.
(Source: rajnikantvscidjokes.in)
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