HDFC Bank has made a significant announcement. Cash withdrawals from UPI ATMs may now incur charges. However, a monthly free limit has been set.
Add informalnewz.com as a Preferred Source
UPI withdrawal limit: HDFC Bank, the largest private sector bank, has made a significant decision, which will be implemented nationwide starting April 1st. The free limit for withdrawing money using UPI has been removed. Customers will now incur a charge.
The bank has stated that any customer withdrawing cash from its ATMs using UPI will be counted toward the monthly free ATM transaction limit, and if the free limit is exceeded, a charge will apply. Previously, this charge was not applicable for UPI.
How many free withdrawal transactions are allowed?
If you have a savings account and withdraw cash using an HDFC Bank ATM, HDFC Bank customers are eligible for five free monthly transactions. Customers of other banks can make three free transactions in metro cities, while those in non-metro cities are eligible for five free transactions. If this monthly limit is exceeded then charges will be applicable.
How much will the charge be?
After the limit is exhausted, starting April 1st, a charge will be levied on UPI cash withdrawals from ATMs. This charge will be ₹23 plus tax per transaction. Currently, this charge is applicable only for using HDFC Bank ATMs.
Charges for using ATMs outside India
HDFC Bank also levies special charges for using ATMs abroad. For the non-managed segment, ₹25 plus tax will be applicable for each balance inquiry. ₹125 plus tax will be applicable for each cash withdrawal, plus a 3.5% cross-currency markup. For the managed segment, ₹110 plus applicable tax will be applicable for each cash withdrawal. ₹15 plus tax will be applicable for each balance inquiry.
Unlimited free transactions at these HDFC Bank ATMs
Current Accounts – Biz Lite+, Biz Pro+, Biz Ultra+, Biz Elite+, Flexi, Plus, Active, Ascent, Max Advantage, Max, Professional, Ecom, Apex, Ultima, Flexi, Merchant Advantage Plus Current Account, Merchant Advantage Current Account, Supreme Current Account, StartUp Current Account, SmartUpMax, SmartUp Growth, and Giga Current Account. Unlimited transactions will apply to these accounts.
🙏 Support Independent Journalism
We keep news free for you.
Most readers support with ₹500 ❤️
or scan QR below
Voluntary contribution. No tax benefits.
Add informalnewz.com as a Preferred Source
DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
