The
Department of Posts has introduced updated rules for
ATM transactions on Post office savings accounts. These changes affect
transaction limits, free withdrawals, and additional charges, aiming to streamline operations and reduce misuse.
1. What Has Changed in ATM Transactions?
Post office ATM cardholders will now data-face
new limits and charges:·
Free Transaction Limit Reduced: Previously unlimited or higher number of free withdrawals; now only a
fixed number of free ATM transactions per month·
Charges Beyond Free Limit: Any transaction beyond the threshold will
incur additional fees·
Daily and Monthly Limits: Withdrawal limits per day or month may also be revised for better fund managementThese changes apply to
all Post office ATM debit cardholders, including savings accounts and recurring deposit-linked accounts.
2. Free Transactions: What You Need to Know
·
Number of Free Transactions: Limited to a specific number per month (varies by account type)·
Types of Free Transactions: Cash withdrawal, balance inquiry, and mini-statement may all be counted·
Exceeding Limit: Each extra transaction will
attract additional charges, debited directly from your accountCustomers should check their
monthly free transaction limit to avoid unexpected charges.
3. Revised Charges for Additional Transactions
Transaction TypeNew Charges (Approx.)Cash Withdrawal (Debit Card)₹20–₹25 per transactionBalance Inquiry₹5–₹10 per inquiryMini Statement₹5–₹10 per requestCharges may vary slightly depending on
branch or card type.
4. Daily and Monthly Withdrawal Limits
·
Daily Limit: Maximum cash withdrawal per day is
capped, depending on account type·
Monthly Limit: There may also be a
monthly cumulative withdrawal limit to encourage responsible usageThese limits are designed to
protect customer accounts and reduce the risk of fraud.
5. How to Avoid Extra Charges
1. Track the number of
ATM transactions each month2. Use
Post office ATMs within your free limit3. Opt for
online banking or mobile banking transfers to reduce ATM usage4. Check the
official Post office website or notification for updated rulesBeing mindful of transaction counts can
save you unnecessary fees.
6. Why These Changes Were Introduced
· To
manage costs for the Department of Posts· To
encourage wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital transactions and reduce cash handling· To
standardize ATM usage policies across the countryThe focus is on creating a
balanced system that benefits both customers and the Post Office.
7. Conclusion
Post office ATM rules have changed significantly:·
Free transactions are now limited·
Additional transactions will attract fees· Daily and monthly withdrawal limits are enforcedCustomers should
review the new rules carefully to avoid unexpected charges and consider
digital alternatives for routine transactions.
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