28 May 2019

ATM Card Rules: Transaction Charges Levied By SBI, Post Office Compared Here

ATM Card Rules: Transaction Charges Levied By SBI, Post Office Compared Here

Major lenders and post offices, which also provide banking services, across the country offer ATM-cum-debit cards with a certain withdrawal limit. Customers are charged for transactions at ATMs over and above the permitted number of free transactions. The ATM card charges are levied depending on the type - whether it belongs to the same bank or post office where the customer's account is located or some other bank or post office - and nature of ATM - whether the ATM is located in a metropolitan or any other city in the country.

Here's a comparison of ATM cash withdrawal limits and different types of ATM card charges levied by SBI and post office:
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State Bank of India (SBI):
SBI offers several types of ATM-cum-debit cards. These ATM cards enable customers to make cash withdrawals up to a certain limit. For example, SBI's Global International debit card allows customers to withdraw up to Rs. 40,000 per day,
Here are the various charges of SBI's ATM cards, according to bank's website - sbi.co.in:
Debit Card Issuance ChargesNormal (Classic/Global)Nil
Gold Debit Card100/- (including tax)
Platinum Debit Card306/- (including tax)
Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards)Classic Debit Card100/- plus tax
Silver/Global /Yuva /Gold Debit Card150/- plus tax
Platinum Debit Card200/- plus tax
Pride/Premium Business Debit Card300/- plus tax
Debit Card Replacement ChargesRs.204/- (including tax)
Duplicate PIN/ Regeneration of PINRs.51/- (including tax)
Domestic Transaction ChargesTransactions at State Bank Group ATMsFree
Other Bank ATMs - Up to 5 Transactions during a calendar month (for savings bank account only)Free
Other Bank ATMs – Beyond 5 transactions(in Savings account) AND other than savings account:
Financial Transaction:17/- (including tax)
Non-Financial Transaction6/- (including tax)
Here are the ATM cash withdrawal limit and various charges of Post office's ATM cards as stated on India Post's website - indiapost.gov.in:
India Post (post office) ATM transaction limits/charges
Daily ATM cash withdrawal limitRs. 25,000
Cash withdrawal limit per transactionRs. 10,000
Charges for transactions done at DOP ATMsFree (Both financial & non-financial) with a limit of 5 financial transactions per day
Permissible free transactions at other Bank ATMs (per month)Metro Cities - 3 free transactions (Both financial & non-financial)

Non Metro Cities - 5 free transactions (Both financial & non-financial)
Charges after exceeding permissible free transaction limit at other Bank ATMsFinancial & Non Financial Transactions - Rs. 20 + Applicable GST
Among other services, post office also offers the facility to transfer savings accounts from one post office branch to another, according to its website.

Source - NDTV 

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