ATM maximum withdrawal per day: SBI customers can’t do this from October 31,then what would be the bank offer for otherb banks such as HDFC,BoB, PNB,Axis,ICICI banks???

ATM Cash Withdrawal Limit:

From October 31st the State Bank of India customers the limitations of withdrawal from ATM has changed as they have been till now. Recently, India’s largest lender SBI announced on its website, that “Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31. If we require higher daily cash withdrawal limit, we need to apply for a higher card variant.”

sbi

However, this will apply is applicable for maestro and classic debit card users of SBI.

SBI has put a limit on cash withdrawal in an attempt to protect customers from fraudulent cash withdrawals from ATMs and also to improve more digital transactions.

SBI Managing Director PK Gupta said that, “After analyzing all the ATM transactions, we found that most of them are less than Rs 20,000 a day. In the case of frauds reported to us, we found that in all such cases withdrawals of Rs 40,000 (the maximum) have happened. So this is basically to protect the customers and secondly, we want that more such (digital) transactions should happen.”

While the SBI put a restriction on ATM withdrawals, other banks continue to allow big cash withdrawals. Some even allow withdrawals over Rs 1 lakh in a day. Details of other bank transaction are mentioned below:

HDFC Bank: Withdraw up to Rs. 1 lakh/day from ATMs with the platinum chip debit card.

ICICI Bank: Withdraw up to Rs 50,000/day from any of its ATMs. The limit for High Net Worth Individuals is Rs 100000/day. On ICICI signature debit card, the withdrawal limit is Rs 1,50,000/day.

Punjab National Bank: PNB has separate withdrawal limits for Platinum and Classic card users. Both cards come in Rupay and Master variants.

Platinum card holders of PNB official website:

– Cash withdrawal limit per day – Rs 50,000

– Cash withdrawal limit one time – Rs 15000

– ECOM/POS consolidated limit – Rs 125000

– Accidental/Disability insurance – Rs 200000

Classic card holders of PNB official website:

– Cash withdrawal limit per day- Rs 25000

– Cash withdrawal limit one time – Rs 15000

– ECOM/POS Consolidated limit – Rs 60,000

– Accidental/Disability Insurance – Rs 50,000

Axis Bank: Axis Bank offers over a dozen types of debit cards. Its Burgundy Debit Card allowing a daily cash withdrawal limit of Rs 3 lakh, according to the official website of the lender. Titanium Prime and Plus debit cards of the banks provide Rs 50,000 withdrawal limit for a day respectively. With the RuPay Platinum Debit Card, one can withdraw Rs 40,000 in a day. (Check the official website for more details: https://www.axisbank.com/retail/cards/debit-cards)

Bank of Baroda: Bank of Baroda’s Rupay Classic Card has a withdrawal limit of Rs 25,000/- per day.

Limits on other cards are:

– Baroda Master Platinum Card – Rs. 50,000/- per day
– RuPay Platinum Card -Rs. 50,000/- per day
– Visa Electron Card – Rs. 25,000/- per day
– Master Classic Card- Rs 25,000/- per day
– VISA Platinum Chip Card – Rs 1,00,000/- per day
SBI maximum withdrawal from ATM changed!!.txt
Displaying SBI maximum withdrawal from ATM changed!!.txt.