HDFC Bank, the country’s largest private sector bank, has announced an important change for its customers. The new rule will come into effect from April 1 and will apply across India.
According to the bank, customers who withdraw cash from ATMs using UPI will no longer get unlimited free withdrawals.
These transactions will now be counted within the monthly free ATM transaction limit.
Earlier, UPI cash withdrawals were not included in the free ATM transaction count.
But under the new rule, if a customer crosses the monthly free limit, additional charges will apply.
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How Many Free ATM Withdrawals Are Allowed?
Customers with a savings account at HDFC Bank can make five free ATM withdrawals per month from HDFC Bank ATMs.
For customers using ATMs of other banks, the free limit depends on the location.
In metro cities, customers can make three free transactions per month. In non-metro cities, the limit is five free transactions.
Once this monthly limit is crossed, the bank will start charging a fee for each additional transaction.
Charges After the Free Limit
After the free withdrawal limit is exhausted, customers will have to pay ₹23 per transaction plus applicable taxes.
This rule will apply to cash withdrawals made from HDFC Bank ATMs, and the new charges will start from April 1.
Charges for Using ATMs Abroad
The bank also applies specific charges when customers use ATMs outside India.
For customers in the non-managed segment, every balance enquiry costs ₹25 plus taxes.
Each cash withdrawal is charged ₹125 plus taxes, along with a 3.5% cross-currency markup.
For the managed segment, cash withdrawals cost ₹110 plus taxes, along with the same 3.5% cross-currency markup. Balance enquiries in this segment cost ₹15 plus taxes.
Accounts That Get Unlimited Free Transactions
Some current account holders at HDFC Bank can still enjoy unlimited ATM transactions.
These include accounts such as Biz Lite+, Biz Pro+, Biz Ultra+, Biz Elite+, Flexi, Plus, Active, Ascent, Max Advantage, Max, Professional, Ecom, Apex, Ultima, Merchant Advantage Plus Current Account, Merchant Advantage Current Account, Supreme Current Account, Startup Current Account, SmartUpMax, SmartUp Growth, and Giga Current Account.
Customers with these accounts will not have to worry about limits on ATM transactions under the bank’s current policy.