As per RBI FAQ ATM Transactions, the bank should offer its savings bank account holders a minimum number of free transactions at ATMs:
Transactions done at Bank’s own ATMs at any location: Banks should offer their savings bank account customers at least five free financial transactions every month, irrespective of the location of the ATM. A fixed amount of non-cash withdrawal transactions will be offered at no cost.
Transactions at any other bank’s ATM in metro locations: Banks will have to offer their savings bank account holders at least three free transactions (including financial and non-financial transactions) every month at ATMs located in six metro locations.
Transactions at any other bank’s ATM in non-metro locationsBanks will have to offer savings bank account holders at least five free transactions (including financial and non-financial transactions) in a month using other bank ATMs at a location other than six metro locations.
Note that the foregoing is not applicable to BSBDA as the amount of withdrawal from such accounts is subject to the conditions attached to such accounts.
In addition, these are applicable to the following metro locations: Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.
Here’s a look at the number of free ATM transactions
, ICICI Bank And HDFC bank Customers get it in a month.
sbi free atm transaction
For customers with monthly balance up to Rs 1 lakh,
(SBI) offers five free transactions at SBI ATMs, the bank’s website said. However, at other banks the number of free transactions in metro locations is limited to three.
SBI charges fees for transactions above the free limit depending on the type of transaction and ATM. Customers are charged Rs 5 at SBI ATMs and Rs 8 at other bank ATMs for non-financial transactions that exceed the free limit, in addition to applicable GST rates. The fee for financial transactions over and above the prescribed limit is Rs 20 for transactions done at other bank’s ATMs and Rs 10 for transactions done at SBI. 20 plus GST is levied on all banks on fall in transactions due to insufficient balance. Note that GST is applicable at 18 per cent.
hdfc bank free atm transaction
For savings and salary account customers, the number of free ATM transactions per month is limited to 5. Free limit plus ATM transaction fee rate up to Rs. 21 Plus Tax, as per HDFC Bank website. Non-financial transactions in excess of the limit will be charged Rs 8.50 plus applicable taxes.
The number of free transactions per month at other bank ATMs is limited to 3 in metro areas and 5 in non-metro areas.
Only cash withdrawal transactions will be charged for transactions done at HDFC Bank ATMs. Balance enquiry, mini statement and PIN change are non-financial transactions, hence not charged.
Note that both financial (cash withdrawal) and non-financial transactions will be taken into account while charging for transactions done from ATMs that are not HDFC Bank ATMs.
According to the HDFC Bank website, “For HDFC Bank customers, domestic ATM transactions done after 7:30 PM will be treated as next day transaction. ATM transactions done after 7:30 PM on the last day of the month will be considered in the subsequent month. Transactions identified for charging after completion of prescribed free limit will be calculated based on the above cut off time.
icici bank free atm transaction
Savings bank account holders are given 5 free financial transactions per calendar month
ATM; All non-financial transactions are free. According to the bank’s website, the cost of cash withdrawal from ICICI Bank ATM is Rs 21 per transaction.
A maximum of 5 transactions (including financial and non-financial transactions) will be allowed per calendar month with a limit of 3 free transactions in 6 metro locations at other bank ATMs.
Transactions do not count under free transactions
Financial and non-financial transactions at other bank’s ATMs are included in the prescribed number of transactions free of cost. The number of free ATM transactions does not include non-cash withdrawals (such as balance enquiry, request for checkbook, tax payment, money transfer, etc.).
According to the RBI FAQ, “Transactions that fail due to technical reasons like hardware, software, communication issues; Non-availability of currency notes in ATMs; and other disclaimers attributable directly/totally to the Bank/Service Provider; Invalid PIN / Verification; etc., will not be counted as valid ATM transaction for the customer. Consequently, no duty will be levied on him.”