written by | November 2, 2022

Limitation in ATM Cash Withdrawal Across Top Banks in India

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ATMs have become an essential part of our day-to-day lives. They have made cash withdrawal and deposit much easier and more convenient for the common people. However, certain limits have been imposed on ATM cash withdrawals per day and deposits that vary from bank to bank and may also depend on the type of card you own. 

Do you know? The number of ATMs under the National Financial Switch (NFS) network amounted to over 255 thousand as of January 2022. 

What does an ATM limit mean? 

ATM limit refers to the number of times you can use your card to withdraw or deposit money at an ATM. ATM limits can also be imposed on the amount of money you can remove or deposit in each transaction. 

Per the RBI guidelines, customers can have five free transactions per month at their bank’s ATM, three free transactions at other bank ATMs in metro regions, and five free transactions at other bank ATMs in the non-metro areas. Exceeding the number of free transactions will cost you a nominal fee which is ₹21, and you have to pay it in the form of tax. 

However, the cash withdrawal limit varies from bank to bank and depends on the type of card and account you own. For example, if you have a Platinum series debit card from Canara Bank, the withdrawal limit is extended from ₹40,000 to ₹50,000. Similar variations can be seen in different types of accounts. 

Also Read: All About UPI– United Payments Interface

What is the need for ATM limits?

As ATMs can hold only a limited amount of money, banks need to ensure that they can meet the cash needs of all customers. Due to this, they have imposed certain limits on cash withdrawal, such as limiting the number of free cash withdrawals from ATMs per month, limiting the withdrawal amount per transaction or per day, etc. with the help of ATM limits, banks can manage the cash flow easily and make sure that everyone meets their cash needs. Along with convenience, such limits also ensure the security and safety of the customer's money. 

For example, in case of a stolen or misplaced card, the person could withdraw the entire amount from your account within a single transaction. To avoid all such circumstances, implementing required ATM limits is necessary. 

Cash Withdrawal Limits of Some Top Banks 

In India, banks set cash withdrawal limits to manage cash flows for all customers. The Reserve Bank of India and banks together determine the cash withdrawal limits in India.The bank has come up with these limits in consultation with the Reserve Bank of India. The following points explain the standard cash withdrawal limits from banks.

1. State Bank of India (SBI)

SBI is India's largest public sector bank which falls under the public sector and has recently become a Fortune 500 company. SBI has recently revised the cash withdrawal limits for all debit card holders. Here’s the list  

  • SBI classic and SBI Maestro debit cards - ₹20,000 
  • SBI Global International debit cards - ₹ 40,000
  • SBI Gold International debit card - ₹50,000
  • SBI Go and In Touch Tap debit cards - ₹40,000
  • SBI Platinum international debit cards - ₹1 Lakh 
  • SBI Mumbai Metro combo card - ₹40,000
  • SBI My Card International debit card - ₹40,000

To ensure the proper safety of customers’ money, transactions above ₹10,000 will have to be completed through OTP verification. 

2. Axis Bank

It is the third-largest private bank in India.  Axis bank offers a wide variety of debit cards keeping in mind the needs of all types of customers. Axis bank debit cards also offer exciting benefits with other online platforms like Amazon, Flipkart, etc.

Here is the list of the different ATM cards and their limits –

  • E-Debit Card – No Physical transactions 
  • Liberty Debit Card - ₹50,000
  • Burgundy Debit Card - ₹3 lakhs
  • Priority Debit Card - ₹1 lakhs
  • Prestige Debit Card - ₹1 lakhs 
  • Delight Debit Card - ₹1 lakhs 
  • Value Plus Debit Card - ₹1 lakhs 
  • Online Rewards Debit Card - ₹50,000
  • Rewards Plus Debit Card - ₹50,000
  • Secure plus debit Card - ₹50,000
  • RuPay Debit Card - ₹40,000
  • RuPay Platinum NRO Debit card - ₹75,000
  • Power Salute Debit Card - ₹40,000
  • Titanium Rewards, Prime, NRI Domestic, and Prime Plus Debit Card - ₹50,000
  • Youth and Ladies First Debit Card - ₹40,000
  • Visa Classic and platinum Debit Cards - ₹40,000
  • Smart Privilege Debit Card - ₹40,000 

Further details of all these cards can be found on their official website.

Also Read: What are E-Commerce Frauds and How To Prevent Them?

3. HDFC Bank

HDFC Bank is one of the most reputed private sector banks in India. To satisfy all their customers, HDFC offers a wide variety of debit cards, each card having its own benefits.

Along with varying cash withdrawal limits, they also provide different other benefits such as cashback rewards, insurance covers, etc. on different cards. The different cards offered by HDFC Bank along with their cash withdrawal limits are mentioned below -

  • Millenia Debit Card - ₹50,000
  • MoneyBack Debit Card - ₹25,000
  • Infiniti Debit Card - ₹2 lakhs 
  • EasyShop Imperia Platinum, Preferred Platinum, Classic Platinum, and Platinum Debit Cards - ₹1 lakhs 
  • Times Points Debit Cards - ₹1 lakhs 
  • Rewards Debit Card - ₹50,000
  • RuPay and EasyShop RuPay and Visa NRO Debit Cards - ₹25,000
  • InterMiles HDFC Signature Debit Card - ₹3 lakhs (Along with daily shopping limits)
  • EasyShop Women’s Advantage and Normal Debit Cards - ₹25,000 
  • EasyShop Titanium and Gold Debit Cards - ₹50,000
  • EasyShop Titanium Royale Debit Cards - ₹75,000
  • Jet Privilege HDFC Bank World Debit Card - ₹3 lakhs (Along with daily shopping limits)

Other details like eligibility, criteria for cashback rewards, etc. can be found on their official website.

4. ICICI Bank

ICICI bank is one of the largest private banks in India. It provides debit cards for personal as well as professional uses. It provides personalized cards which you can customize according to your needs. They provide debit cards for every age. The limits for the cards are different for domestic and International ATMs and are mentioned below -

  • Expressions Debit Card - ₹1 lakhs (At domestic ATMs) and ₹2 lakhs (At international ATMs)
  • MasterCard World Debit card – ₹1 lakhs (At domestic ATMs) and ₹2 lakhs (At international ATMs)
  • Visa Gold Family Debit Card - ₹1 lakhs (At both domestic and international ATMs)
  • Platinum Debit Card – ₹1 lakhs (At both domestic and international ATMs)
  • Privilege Banking Titanium Debit Card - ₹1 lakhs (At domestic ATMs) and ₹1.50 lakhs (At International ATMs)
  • Woman’s Debit Card - ₹1,25,000 (At both Domestic and international ATMs)
  • Smart Shopper Debit Card (NEW) - ₹50,00 (At domestic ATMs) and ₹1 lakhs (At international ATMs)
  • NRE Debit card - ₹1 lakhs (At both Domestic and International ATMs)
  • NRO Debit card - ₹50,000 (only available at Domestic ATMs)
  • Senior Citizen Gold Debit Card - ₹75,000 (At both Domestic and International ATMs)
  • Senior Citizen Silver Debit Card - ₹50,000 (At both Domestic and international ATMs)
  • Young Stars Debit card - ₹5,000 (Available only at domestic ATMs)

Apart from physical debit cards, ICICI Bank also provides Virtual Debit Card, which supports cashless payments and can be easily generated through their mobile banking app.

5. Punjab National Bank (PNB)

 PNB has segregated ATM cards into three types – Platinum, Classic, and Gold. The cash withdrawal limits are different for each type of card. Along with these three cards, PNB has also introduced some other debit cards that provide a more personalized and premium experience. 

  1. PNB Platinum Debit Card - ₹ 50,000 and one-time withdrawal limit is ₹20,000 
  2. PNB Classic Debit Card - ₹25,000 and one-time withdrawal limit is ₹20,000
  3. PNB Gold Debit Card - ₹50,000 and one-time withdrawal limit is ₹20,000 
  4. RuPay Select Debit Card - ₹50,000 
  5. VISA Signature Debit Card – Not applicable

For other important details, you may refer to their website.

6. Bank of Baroda

Bank of Baroda provides many kinds of debit cards to its customers. These cards might be international or domestic depending on the type of card you choose. Here is the complete list of the debit cards offered by the bank of Baroda –

  • Baroda BPCL Debit Card - ₹50,000
  • MasterCard DI Platinum Debit Card - ₹50,000
  • VISA Vyapaar DI Platinum Debit Cards - ₹2 lakhs 
  • Bob World Yodha Debit Card - ₹1.5 lakhs (Unlimited free transactions at ATMs)
  • MasterCard Classic DI Debit Card - ₹25,000
  • RuPay Platinum DI, Classic DI, and Qsparc NCMC Debit cards - ₹50,000
  • RuPay Select DI Debit Card - ₹1.50 lakhs 
  • VISA Classic Debit Cards - ₹25,000
  • VISA Platinum Debit Cards - ₹50,000

7. Kotak Mahindra Bank 

Kotak Mahindra Bank has many kinds of debit cards that suit all different types of customers. 

Here is the complete list of their debit cards along with their daily cash withdrawal limits – 

  • 811 Dream Different Debit Card - ₹25,000
  • PayShopMore Debit Card - ₹40,000 (At Domestic ATMs) and ₹50,000 (At international ATMs)
  • Kotak PVR Debit Card - ₹1 lakhs (Unlimited free withdrawals at all ATMs)
  • Kotak Platinum and Gold Debit Card - ₹1 lakhs (unlimited free withdrawals at all ATMs)
  • Silk Platinum Cards - ₹40,000 (At domestic ATMs) and ₹50,000 (At international ATMs)
  • Privy League Platinum Debit card - ₹1.5 lakhs
  • Privy League Signature Debit card - ₹2 lakhs
  • Infinite Wealth Management Debit Card - ₹2.5 lakhs
  • RuPay Debit card - ₹10,000 (along with the purchase limit)
  • Business Power Platinum Debit Card - ₹50,000 (For Edge, Pro, and Elite Accounts) and ₹1.5 lakhs
  • RuPay INDIA Debit Card - ₹40,000
  • Easy Pay Debit Card - ₹25,000
  • Jifi Platinum Debit Card - ₹50,000 (For Edge and Pro accounts) and ₹1 lakhs (For Ace account)
  • Classic One Debit Card - ₹10,000
  •  Business Class Gold Debit Card - ₹50,000
  • Access India Debit Card - ₹75,000

Also Read: How to Get UPI QR Code for your Flourishing Business?

Conclusion

As the banking system is going digital, transactions are switching to cashless mode, and people prefer online or Net banking over other traditional methods. Banks also provide exciting benefits and offers to promote online banking systems.

Though online banking is gaining popularity, ATMs will never lose their shine and continue to be an easy and convenient way of cash withdrawals for many people in this country. We hope this article might have helped us learn about the daily cash withdrawal limits on debit cards imposed by the bank authorities.
Follow Khatabook for the latest updates, new blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and account. 

FAQs

Q: Can I withdraw 20000 from an ATM at once?

Ans:

Yes,  ATM daily maximum cash limit varies between 20,000, while its minimum limit is 100

Q: Can you privately own an ATM?

Ans:

Independent ATMs may be found in a wide variety of public and retail venues. There are various business models that may apply to bank customers who own or operate independent ATMs.

Q: When did ATMs come to India?

Ans:

The first ATM in India was set up in 1987 by HSBC in Mumbai.

Q: Who owns an Indian ATM?

Ans:

The Reserve Bank of India gives in-principle approval to companies to roll out White Label ATMs. White Label ATM (WLA) operator is a non-bank entity which can set up, own and operate an automated teller machine (ATM) as extended delivery channels. The RBI also gives final guidelines for prospective WLA operators.

Q: How much is the ATM withdrawal limit?

Ans:

ATM cash withdrawal limits range from  ₹ 24,709.67 to 82365.55 per day depending on the bank.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
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Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.