Here’s a look at the new charges for post office savings account ATM card.
new atm card fee
As per the circular, with effect from October 1, 2021, the annual maintenance fee for ATM/debit card will be Rs 125 plus GST. These charges are applicable for the period October 1, 2021 and September 30, 2022. India Post will now charge for this too SMS Alerts sent for Debit Card Customer – Debit card holders will be charged Rs.12 (inclusive of GST) per year for sending SMS alerts.
If a customer loses his India Post ATM Card, then he has to pay Rs 300 plus GST to get a replacement debit card. Similarly, if the ATM PIN is lost, there will be a charge for obtaining a duplicate PIN from October 1. Rs 50 plus GST will be charged for re-creating the PIN or receiving a duplicate PIN through a branch.
If there is a drop in ATM or POS transactions due to shortfall in the balance in the savings account, the customer will have to pay Rs 20 plus GST.
The Department of Posts has also limited the number of free financial transactions that can be done at ATMs. According to the circular, for financial transactions at India Post’s own ATMs, Rs 10 per transaction plus GST will be charged after five free transactions. Similarly, financial transactions at other ATMs, 3 free transactions in metro cities or 5 free transactions in non-metro cities will attract Rs 20 plus GST.
For non-financial transactions at India Post’s own ATMs, the customer will be charged Rs 5 per transaction plus GST after 5 free transactions. In case of other bank ATMs, after 3 free transactions in metro cities or 5 free transactions in non-metro cities, Rs 8 plus GST will be levied on one.
Cash withdrawals made by debit card holders at Point of Service (POS) will be charged at the rate of 1 per cent of the transaction, subject to a maximum of Rs 5 per transaction.