Wednesday, 5 December 2018

Transaction Charges On ATM-Cum-Debit Cards Levied By Top Banks

Top banks in the country offer ATM-cum-debit cards but levy certain usage charges. From State Bank of India (SBI), the country's largest lender, to private sector peers like HDFC Bank, ICICI Bank and Axis Bank - lenders offer a fixed number of ATM transactions free of cost every month. The ATM charges apply depending on the type - whether it belongs to the same bank where the customer's account is located or some other bank - 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 transaction charges by SBI, HDFC Bank, ICICI Bank and Axis Bank:

State Bank of India

Here are the various charges of SBI's ATM cards as stated on sbi.co.in:

Debit Card Issuance ChargesNormal (Classic/Global)Nil
Gold Debit Card100/- (including service tax)
Platinum Debit Card306/- (including service tax)
Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards)Classic Debit Card100/- plus service tax
Silver/Global /Yuva /Gold Debit Card150/- plus service tax
Platinum Debit Card200/- plus service tax
Pride/Premium Business Debit Card300/- plus service tax
Debit Card Replacement ChargesRs.204/- (including service tax)
Duplicate PIN/ Regeneration of PINRs.51/- (including service 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 service tax)
Non-Financial Transaction6/- (including service tax)

HDFC Bank 
Here are the various charges of HDFC Bank's ATM cards as stated on hdfcbank.com:
ATM / DEBIT CARD RELATED CHARGES
ATM cardNo Charge
ATM card - Replacement chargesReplacement of a lost card - Rs. 200 (plus taxes)
ATM card - Transaction charge - non HDFC Bank domestic ATMsNo Charge (effective 1st Dec 2014)
Debit Card - Annual Fee - RegularRs. 150 per year (plus taxes) (w.e.f. 25th Dec'14)
Debit Card - Renewal Fee - RegularRs. 150 per year (plus taxes) (w.e.f. 25th Dec'14)
Debit Card - Annual Fee - PlatinumRs. 750 per year (plus taxes) (w.e.f. 1st June'15)
Debit Card - Renewal Fee - PlatinumRs. 750 per year (plus taxes) (w.e.f. 1st June'15)
Debit Card - Replacement chargesReplacement/Reissuance Charges for Debit Cards - Rs.200 plus applicable taxes
Add-on debit card - RegularOne add-on card - No Charge for the first year
Rs. 150 per year (plus taxes) (w.e.f. 25th Dec'14)
Debit Card - Transaction charge - HDFC Bank ATMsNo Charge
Debit Card - Transaction charge - non HDFC Bank domestic ATMsFirst 5 Transactions Free across all Cities
Transactions over and above free limit will be charged as under:
Cash withdrawal - Rs. 20 plus applicable taxes (W.e.f 1st Nov'17)
Non-Financial Transaction - Rs. 8.5 plus applicable taxes (W.e.f 1st Nov'17)
PIN regeneration chargeRs. 50 (plus taxes)
Number of Cash transactions4 free cash transactions per month
(Cumulative of Deposit and Withdrawal)5th transaction onwards - Rs.150/- per transaction plus applicable taxes (W.e.f 1st Nov'17) would be levied
Value of Cash transactionsAny HDFC Branch
(Cumulative of Deposit and Withdrawal)2 lakh - Free per month per account.
Above 2 lakh - Rs.5/- per thousand or part thereof, subject to a minimum of Rs.150/- plus applicable taxes (W.e.f 1st Nov'17)
Third party Cash transactionUpto a limit of Rs.25,000/- per day - Rs.150/- plus applicable taxes (W.e.f 1st Nov'17)
(Cumulative of Deposit and Withdrawal)Above Rs.25,000/- not allowed

ICICI Bank
Here are the various charges of ICICI Bank's ATM cards as stated on icicibank.com: 
Transaction typeTransaction charges
Joining FeeRs. 250 + GST as applicable
Annual FeeRs. 250 + GST as applicable
Lost card replacementRs. 199 + GST as applicable
Cash withdrawal from ICICI Bank ATM'sFree
Cash withdrawal from Non ICICI Bank ATM'sRs. 20 per withdrawal + GST as applicable
Balance Inquiry from ICICI Bank ATM'sFree
Balance Inquiry from Non ICICI Bank ATM'sRs. 8 per inquiry + GST as applicable


Axis Bank

Here are the various charges of Axis Bank's ATM cards as stated on axisbank.com:

Card PlatformVisa Classic/Platinum
Issuance FeesRs. 200 + taxes
Annual FeesRs. 150
Replacement FeeRs. 200
ATM Withdrawal Limit (Per Day)Rs. 40,000
Purchases Limit per dayRs. 1,00,000
Lost Card LiabilityRs. 50,000
Personal Accident Insurance CoverRs. 2 lakh
Airport Lounge AccessNo
MyDesignRs. 150 extra

However, banks do charge an amount for the issuance and annual maintenance of ATM cards.

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