ATM rules changing from April 1: HDFC, PNB, Bandhan Bank revise limits, charges

HDFC Bank, Punjab National Bank and Bandhan Bank are set to introduce a series of changes to ATM cash withdrawal rules, charges and limits from the beginning of next month. This is expected to have a direct impact on customers' daily transaction habits. Therefore, it is essential for customers to become aware of these new rules right now.

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UPI withdrawals, daily limits and free transaction caps to be revised

HDFC Bank is set to bring changes to UPI-based cash withdrawals from ATMs, which is considered the most significant change. Until now, many customers withdrew money from ATMs through UPI, but it was considered a separate facility. However, from April 1, withdrawing cash from ATMs using UPI will be counted within the monthly free ATM transaction limit.

This means that once the designated free limit is exceeded, a charge of ₹23 plus applicable taxes will be levied for each transaction. As a result, costs may increase somewhat for those who regularly withdraw money from ATMs using UPI.

On the other hand, Punjab National Bank is set to significantly reduce the daily cash withdrawal limit on multiple debit cards. Where previously certain cards allowed withdrawals of up to ₹1 lakh per day, this has been reduced to ₹50,000. Again, for some premium cards, this limit is being reduced from ₹1.5 lakh to ₹75,000. Due to this decision by the bank, customers accustomed to large cash transactions will have to make new plans.

Bandhan Bank is also introducing new rules for ATM transactions. From now on, customers will be able to make five financial transactions free of charge per month at their own ATMs, although there will be no limit on non-financial transactions. However, when using other banks' ATMs, customers will get three free transactions per month in metro cities and five in non-metro cities.

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Both financial and non-financial transactions will be counted within this limit. If the limit is exceeded, charges of ₹23 for each financial transaction and ₹10 for non-financial transactions will be levied. Even if a transaction fails due to insufficient funds in the account, a penalty of ₹25 will have to be paid.

Therefore, experts believe that customers will have to use banking services more consciously and in a planned manner in the coming days.