Even in the age of electronic payments, there are still situations when cash is necessary and cannot be avoided. Despite the ongoing growth of UPI transactions, many people still favor using solely cash. Since ATMs are now widely distributed, it is also very simple to access cash in this situation. But all banks also restrict how much cash may be withdrawn from ATMs.
For instance, different banks restrict how much cash you can withdraw from an ATM daily. Here, we'll outline some of the top banks in the country's daily cash withdrawal policies.
HDFC Bank Cash Withdrawal Limit
Users of HDFC Bank debit cards are entitled to five free transactions before being charged. For foreign withdrawals, a fee of Rs 125 is charged. The daily cash withdrawal cap for the Millenia Debit Card is Rs. 50,000, the daily cap for the MoneyBack Debit Card is Rs. 25,000, and the daily cap for the Rewards Debit Card is Rs. 50,000.
State Bank of India ATM Cash Withdrawal Limit
The largest public sector bank in the nation, State Bank of India, provides its clients with a range of financial services. SBI also offers a variety of cards. These cards may have different cash withdrawal restrictions.
The daily limit of cash withdrawal from a Classic Debit Card or Maestro Debit Card is Rs 20,000.
Customers can withdraw up to Rs 1 lakh daily using SBI Platinum International Debit Cards. The maximum balance on SBI GO connected and touch-tap debit cards are Rs 40,000. In major cities, SBI cardholders are entitled to three monthly complimentary cash withdrawals. In other cities, there are five free withdrawals available. After that, customers have to pay a fee of Rs. 5 at SBI ATMs and Rs. 10 at non-SBI ATMs after exceeding this limit.
Punjab National Bank ATM Cash Withdrawal Limit
The PNB Platinum Debit Card allows customers of this government bank to withdraw up to Rs. 50,000 rupees per day. The amount that can be taken from the PNB Classic Debit Card account is Rs. 25,000 maximum. The Gold Debit Card's account has a daily cash withdrawal cap of Rs. 50,000. Additionally, this bank offers 5 free debit card withdrawals and 3 free ATM withdrawals in other cities. On other withdrawals, a charge of Rs 10 is applied.
Axis Bank Cash Withdrawal Limit
Axis Bank's daily cap on cash withdrawals is Rs. 40,000. In this, each withdrawal carries a fee of Rs 21.
Bank Of Baroda Cash Withdrawal Limit
The BPCL Debit Card from Bank of Baroda allows daily withdrawal limits of Rs. 50,000, Rs. 50,000 from the MasterCard DI Platinum Debit Card, and Rs 25,000 from the MasterCard Classic DI Debit Card.