All You Need To Know About Debit Card Transaction Limit

RBI has launched new regulations regarding debit card limit for all banks. If you’re wondering how to check debit card limit, this article is for you.

Debit Card Transaction Limit

While you can use your debit card to withdraw cash, there are limits imposed on the number of withdrawals or the amount that is withdrawn.

Depending on the type of customer's bank account or the debit card being used, the cost may vary

Charges on ATM transactions have been implemented by the RBI for a number of institutions, including SBI, HDFC, ICICI, and Axis Bank. No matter where the ATM is located, banks need to give a certain minimum number of free financial transactions every month.

There will be a minimum of three free transactions for the ATMs located in major metropolises including Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi. 

These free transactions cover both financial and non-financial transactions. Additionally, free non-cash withdrawal transactions are also available.

Debit Card Limit and Charges for Major Banks

Depending on the type of account you have and the debit card you use, the number of free transactions at ATMs may vary.

Beyond the permitted number of free monthly transactions, using the ATMs will incur fees.

In accordance with a regulation released by the Reserve Bank of India in June of last year, beginning on January 1, 2022, banks are permitted to charge Rs. 21 per transaction above the monthly free transaction limit at the ATM.

Previously, banks could charge Rs. 20 for each such transaction.

Customers are limited to three free transactions at other bank ATMs and five free transactions per month at their own bank's ATMs. Customers in non-metro areas can use five free transactions at ATMs operated by other banks.

Starting on August 1, 2022, the RBI permitted banks to charge an interchange fee of Rs. 17 rupees for each financial transaction and Rs. 6 rupees for each non-financial transaction at all centers.

Following are some debit card transaction limits that apply to several of the largest banks:

1. SBI

The maximum withdrawal limit for accounts has been cut in half by the State Bank of India (SBI). The ceiling was reduced by SBI from Rs. 40,000 to Rs. 20,000. 

According to the lender's website, the new ATM cash withdrawal regulations, which apply to SBI Classic and Maestro debit cards, will take effect on October 31.

The daily ATM cash withdrawal cap for the well-known SBI Classic debit card is 40,000 rupees.

• ATM withdrawal charges from SBI Bank: up to Rs. 20 plus GST (Depending on the number of withdrawals).

• Fee for ATM withdrawals from non-SBI: up to Rs. 20 plus GST (Depending on the number of withdrawals).

• SBI Withdrawal Limit: 40,000 to 1 lakh rupees.

• Fees for international ATM withdrawals: Minimum of Rs. 100 plus GST plus 3.5% of the tax amount.

• SBI ATM free withdrawals: starts at five

Limits for other SBI cards include:

• Debit card from SBI Global International: 50,000 per day

• Debit card for SBI's Platinum International: 100,000 per day

2. HDFC

The Platinum chip debit card from HDFC Bank enables users to withdraw up to 1 lakh from ATMs each day.

• ATM withdrawal charges from HDFC Bank: up to Rs. 21 plus fees

• Fee for ATM withdrawals from non-HDFC Bank: up to Rs. 21 plus taxes

• HDFC's withdrawal cap is Rs. 25,000 to Rs. 75 lakh.

• Charges for foreign ATM transactions: 125 rupees minimum plus taxes

• ATM withdrawals at no cost from HDFC Bank: 5

Debit card limit per day for additional HDFC cards:

• 75,000 per day with the HDFC Bank Titanium Royale Debit Card

• Debit Card for HDFC EasyShop: 25,000 per day

• 25,000 per day with the HDFC RuPay Premium Debit Card.

• Daily limit for EasyShop Titanium Debit Card: 50,000

3. ICICI

A user can use any of ICICI Bank's ATMs to withdraw up to 50,000 per day, according to the bank's official website.

• ATM withdrawal charges from ICICI Bank are Rs. 20.

• ATM withdrawal charges from non-ICICI Bank: Rs. 20

• Withdrawal Cap for ICICI Bank: Charges for foreign ATM transactions vary depending on the ICICI Debit Card: At least Rs. 150

• ICICI ATM Free Withdrawals: 5

Other ICICI cards have the following Debit card limit per day:

• ICICI Bank Privilege Banking Titanium Debit Card: 100,000 per day

• ICICI Bank Smart Shopper Gold Debit Card: 75,000 per day

• ICICI Bank Smart Shopper Silver Debit Card: 50,000 per day

4. Axis Bank

Various debit cards are available from Axis Bank. The lender's official website states that the daily cash withdrawal cap for its Burgundy Debit Card is 3 lakh rupees. A daily withdrawal cap of 50,000 applies to the banks' Titanium Prime and Plus debit cards.

• Up to Rs. 21 in bank fees for ATM withdrawals

• Fee for ATM withdrawals from non-Axis Bank: up to Rs. 21

• Depending on the Axis Bank debit card, the withdrawal cap.

• Fees for International ATM Transactions: Rs.125

• ATM withdrawals at no cost from Axis Bank: 5

5. Bank of India

• ATM withdrawal charges from BOI Bank: up to Rs. 21

• Payment for non-Bank of India ATMs Maximum withdrawals: Rs. 21

• Depending on the BOI Debit card, the withdrawal cap

• overseas ATM Rs.125 in transaction fees plus a 2% currency conversion fee

• Up to 10 withdrawals are cost-free at Bank of India ATMs.

6. Bank of Baroda

The daily withdrawal cap for the Rupay Classic Card from Bank of Baroda is Rs. 25,000.

Other Bank of Baroda debit cards limit include:

• 50,000 per day with the Baroda Master Platinum Card

• 50,000 per day with the RuPay Platinum Card

• per day with a Visa Electron Card: $25,000.

• Per day with a Master Classic Card: $25,000.

• 1 lakh each day with a VISA Platinum Chip Card.

7. Punjab National Bank

Users of Platinum and Classic cards have different cash withdrawal caps at Punjab National Bank (PNB). Both cards are available in Master and Rupay versions.

PNB Platinum Card: Rs. 50,000 per day 

PNB Classic card: daily cap of Rs. 25,000

• ATM withdrawal fees from the bank: 20 to maximum

• Withdrawal Limit: Up to Rs. 50,000 Fee for Non-PNB ATM Withdrawals: Up to Rs. 20 Foreign ATM Transaction Charges: Rs. 150

• PNB ATM free withdrawals: 5

PNB has proposed new withdrawal limits for debit cards using Mastercard, Visa, and Rupay.

• There is a Rs. 1,50,000 ATM cash withdrawal cap for VISA Signature and Rupay Select Debit Cards.

• Rupay, Mastercard, and Visa Gold Debit Cards have an ATM cash withdrawal cap of Rs. 1,000,000.

Debit Card Cash Withdrawl Charges

There has been an increase in the fees for using ATMs for non-cash as well as cash transactions that exceed the permitted free transactions. In accordance with the Reserve Bank's decision from June, banking users will be charged 21 per transaction beginning on January 1, 2022, for transactions that exceed the free permitted limit. Banks are currently permitted to charge 20 for these transactions made through ATMs.

However, customers would still be entitled to five free withdrawals per month from their own bank's ATMs (including both financial and non-financial transactions). Additionally, they would be entitled to three free withdrawals from ATMs of other banks in metro areas and five in non-metro areas.

With effect from August 1, 2021, the RBI had already given banks permission to raise the interchange charge per transaction in all centres from 5 to 6 for non-financial transactions and from 15 to 17 for financial transactions.

The fees have been raised to reflect the rising cost of ATM deployment and maintenance costs borne by banks and white label ATM operators, as well as the need to balance stakeholder expectations with user convenience.

Customers are now only allowed three free ATM withdrawals each month instead of five, as per a change in Reserve Bank of India regulations.

Customers in Bengaluru, Mumbai, Chennai, Kolkata, Delhi, and Hyderabad are subject to the rule. Keep in mind that at automated teller machines, transactions can be both financial and non-financial (ATMs). The most that can be taken from each transaction is Rs. 21.

Citi Bank continues to provide limitless free transactions.

IDBI Bank provides five free transactions at other ATMs in addition to free unlimited transactions at its own ATMs.