ATM Cash Withdrawal Rules: Is there a limit on ATM cash withdrawals? How many times can you withdraw money in a day, and when do extra charges apply? Here is what you need to know about bank rules.
ATM Cash Withdrawal Rules: Nowadays, most people visit ATMs to withdraw cash. However, people often wonder: can you withdraw money from an ATM as many times as you want in a day? Or is there a limit on cash withdrawals? If you have similar questions, it is important to understand the bank's rules.
In fact, there are two types of limits applied to ATM cash withdrawals: the daily cash withdrawal limit and the limit on free monthly transactions. These are distinct rules, so understanding them is important.
How many times can you withdraw cash?
Generally, there is no specific limit on the *number* of times you can withdraw cash from an ATM in a day; you can withdraw as often as you wish. However, there is certainly a limit on the *amount* of money you can withdraw. For instance, if your debit card has a daily cash withdrawal limit of ₹50,000, you can only withdraw a total of ₹50,000 in a day—whether you do it in a single transaction or across ten separate transactions.
Different banks, different limits
Daily cash withdrawal limits vary across banks and debit cards. Some banks offer daily limits of ₹50,000, ₹1 lakh, or even ₹2 lakh, while others cap the limit at just ₹10,000.
How many free transactions are allowed?
In addition to the daily amount limit, there is also a limit on the number of free ATM transactions per month. You typically get five free transactions per month at your own bank's ATMs. For ATMs belonging to other banks, the facility includes three free transactions in metro cities and five in non-metro cities. These free transactions include not only cash withdrawals but also services such as balance checks and mini-statements.
What are the charges?
If you exceed the limit for ATM transactions, the bank levies a charge for each additional transaction. Under current rules, the charge is ₹23 per transaction.
