New ATM Rules from April 1 Extra Charges Await Bank Customers
Banks introduce revised ATM usage rules from April 1 including limits on free transactions UPI withdrawals and daily cash caps urging customers to track usage and avoid additional charges
- New ATM rules apply from April 1 for customers
- ATM rules include limits on withdrawals and charges
- ATM rules affect UPI withdrawals and daily limits
With the new financial year beginning April 1, banks across the country are rolling out updated ATM usage rules that could directly impact customers’ wallets. The changes mainly focus on withdrawal limits, free transaction caps and the inclusion of UPI based cash withdrawals under existing limits.
One of the key updates comes from HDFC Bank, which has decided to include UPI based ATM withdrawals within the monthly free transaction quota. Until now, many customers used cardless withdrawals without worrying about limits. Going forward, once the free limit is exceeded, each additional withdrawal will attract a charge of Rs 23 along with applicable taxes. Typically, customers are allowed five free transactions at their own bank ATMs and three to five at other bank ATMs every month.
Punjab National Bank has also revised its daily withdrawal limits for debit cards. Depending on the card type, customers can now withdraw between Rs 50,000 and Rs 75,000 per day. Earlier, some cards allowed withdrawals up to Rs 1 lakh, but the bank has reduced this cap citing safety concerns and risk management.
Meanwhile, Jio Payments Bank has introduced a convenient option for users without ATM cards. Customers can now withdraw cash by scanning a QR code at designated banking points using their mobile phones. This move is expected to benefit users who rely heavily on digital transactions.
Banking experts advise customers to keep a close watch on the number of ATM transactions they make each month. Exceeding the free limit could result in unnecessary charges. Many are also encouraging a shift toward digital payments, which not only reduces dependency on cash but also helps avoid extra ATM fees.
As these new rules come into effect, customers are urged to stay informed and plan their withdrawals wisely to avoid unexpected costs.
