Banks are making several changes to ATM rules starting April 1. Cash withdrawals using UPI at HDFC Bank will now count as free transactions, but exceeding the limit will incur a ₹23 fee.
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New Delhi. Banks across the country are implementing several changes to ATM usage starting April 1st, marking the start of the new financial year. These changes, announced by major banks and payment banks, are expected to impact withdrawal limits, transaction charges, and how customers withdraw cash.
Private sector bank HDFC has confirmed that UPI-based cash withdrawals from ATMs will now be included in the monthly free transaction limit. Previously considered a separate category, these transactions will now count towards the total number of free transactions.
₹23 charge for transactions exceeding the monthly limit
Customers who exceed their monthly transaction limit will be charged ₹23 per transaction, excluding applicable taxes. Currently, most customers receive five free withdrawals per month from HDFC Bank ATMs; additionally, three free transactions are available from other bank ATMs in metro cities and five free transactions in non-metro areas.
Changes in Cash Withdrawal Limits
Meanwhile, public sector bank Punjab National Bank has revised the daily cash withdrawal limits for some debit cards. Under the new rules, customers will be able to withdraw between ₹50,000 and ₹75,000 per day, depending on their card type.
Some cards, which previously allowed withdrawals of up to ₹100,000, will now have their limits reduced. This move is aimed at consistent usage and improved risk management.
New QR Code-Based Cash Withdrawal
Furthermore, Jio Payments Bank has launched a new QR code-based cash withdrawal feature. Customers can withdraw money from designated banking correspondents by scanning a UPI QR code and approving the transaction through a UPI app. These changes represent a significant shift towards digital banking and tighten controls on cash usage.
Customers are advised to check their bank’s limits and monitor their transactions carefully to avoid additional charges.
