ATM Rules: Starting April 1st, several banks, including HDFC Bank and PNB, are revising their ATM rules. Cash withdrawals made through UPI will now count towards the free transaction limit. Exceeding this limit could result in a charge of up to ₹23. Learn the details.
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ATM Withdrawal Rules: Several banks, including HDFC Bank and Punjab National Bank (PNB), have announced changes to ATM-related rules. These new rules will come into effect on April 1st and will impact how customers withdraw cash. These changes include how transactions are counted, applicable charges, and daily withdrawal limits on some debit cards.
ATM withdrawals using UPI will also count
HDFC Bank has announced that cash withdrawals from ATMs using UPI will now be included in the monthly free transaction limit. Previously, such transactions were considered separate. After the new rules come into effect, cardless cash withdrawals using UPI will also count towards the customer’s free ATM transaction limit.
Charges will apply after the free transaction limit
If a customer exceeds the free transaction limit, the bank will charge ₹23 for each additional transaction, plus applicable taxes. Under the current system, HDFC Bank ATMs offer five free withdrawals per month. Other banks’ ATMs allow three free withdrawals in metro cities and five in non-metro cities.
According to the bank, these changes aim to streamline the fee structure for different cash withdrawal methods and bring more transparency to the charges.
How UPI ATM Withdrawals Work
UPI-based ATM withdrawals do not require a debit card. The customer scans the QR code on the ATM machine and authorizes the transaction through their UPI app. Cash can then be withdrawn from the machine. Many banks are expanding this feature to integrate digital payments and cash withdrawals.
PNB also made changes
Punjab National Bank has also announced changes to ATM withdrawal limits on certain debit cards, effective April 1. According to the bank, the daily cash withdrawal limit will be reduced for certain card categories. However, full details of the new limits have not yet been provided.
Customer Advice
Banks have advised customers to check whether the new rules apply to their debit cards. They also advise using digital payment options like UPI and net banking for large-value transactions.
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