There is no uniformity in the cap for ATM transactions among the bankers in the country. Few bankers have not been collecting any transaction charges for the withdrawals of the same bank’s ATMs but, imposing charges on other banks or non-financial institutions’ ATMs beyond the cap.
As per the guidelines issued by the RBI earlier, most of the popular banks have uploaded the ‘Service Charges & Fee’ details on their websites. Very few banks yet to upload the details related to saving accounts.
Prominent banks like SBI, ICICI, IDBI, HDFC, and others have announced the cap on the usage of ATM withdrawals. Few banks like YES Bank have not imposed any cap on the self ATMs.
Almost all banks are collecting Rs 20 per transaction beyond the cap with other banks and about Rs 5 per transaction in cases of own ATMs. Moreover, few banks are collecting charges up to Rs 25 for wrong entry of withdrawal amount in cases of insufficient funds.
