Bengaluru, Oct 10: It's pretty rare to use cash these days but sometimes you need it, and you might want more than the automated teller machine (ATM) allows you to withdraw. If you are a SBI card holder be careful when you visit ATM next time as you will get a nasty surprise! The country's largest lender SBI will limit cash withdrawals from ATMs to Rs 20,000 per day for certain debit card holders from October 31.
The limit will be applicable on the Classic and Maestro variants of SBI debit cards, while those who want to withdraw more can apply for a higher variant card.
The move intends to protect customers from fraudulent cash withdrawals from ATMs and also to spur more digital transactions.
If any customer wants higher limit of cash withdrawal, he or she can ask for a higher variant card.
Most banks today have certain limits on ATM cash withdrawal in place for their customers. These cash withdrawal limits vary from bank to bank, and depend upon factors such as type of account and type of card.
Here we take a look at the daily ATM withdrawal limit of various banks
HDFC Bank allows cash withdraws up to Rs. 1 lakh per day from ATMs using its platinum chip debit card, according to the lender's website - hdfcbank.com.
ICICI Bank has placed an cash withdrawal limit of Rs. 1,00,000 per day on ATM transactions using its platinum identity chip debit card, according to the bank's website. On ICICI signature debit card, the withdrawal limit is Rs 1,50,000/day.
Punjab National Bank
PNB allows cash withdrawals up to Rs. 50,000 per day from ATMs using its platinum and RuPay debit cards. A limit of Rs. 25,000 per day is applicable to ATM transactions using its classic RuPay and Master debit cards, according to PNB.
Private sector peer Axis Bank allows cash withdrawals up to Rs. 40,000 per day on ATM transactions using its RuPay platinum debit card. A limit of Rs. 50,000 per day is applicable to ATM transactions using the bank's visa titanium prime plus and secure plus debit cards, according to the Axis Bank website.