ATM Transaction Failed Charges: Public lender Punjab National Bank has announced a charge of Rs 10 + GST on domestic ATM cash withdrawal transactions that fail due to ‘insufficient funds’.
The bank will start levying the fee from May 1, 2023. According to PNB’s website, ‘Dear customers, with effect from 01.05.2023, the bank will levy a charge of Rs 10 + GST on domestic ATM cash withdrawal transactions that fail due to insufficient funds.’
What are the guidelines of PNB?
The bank has issued a notification announcing two important changes regarding customer charges.
1) Revision of debit card and prepaid card issue charges and annual maintenance charges.
2) Bank will start levying charges on PoS and eComm transactions (Domestic/International) done through Debit Card, if it is declined due to insufficient balance in the account.
At present the bank charges a fee for issuing and maintaining the debit card. Different variants of PNB Debit cards have different charges.
PNB charges for cash withdrawal?
Punjab National Bank charges customers Rs 10 for withdrawing cash from ATMs after the monthly limit is reached. Get 5 free transactions per month. But it usually only counts successful ATM withdrawal transactions. This is applicable when you are using PNB ATMs.
If you are using other bank’s ATM, 3 transactions per month in metro and 5 transactions per month in non metro are free. Once you cross the limit, Rs 21 per transaction plus applicable taxes will be charged.
