Post Office ATM: Big news for ATM users. As per the most recent announcement from the government, holders of Post Office ATM cards will incur charges for withdrawals made at other bank ATMs after a specified number of free transactions. In metro cities, users will be allowed three free transactions at other bank ATMs, while in non-metro cities, five free transactions will be permitted. Beyond this limit, each financial transaction will incur a fee of Rs 23 plus GST, and non-financial transactions will cost Rs 11 plus GST.
Fee structure at Post Office ATMs
From your Post Office ATM, you can make five free financial and non-financial transactions each month. After reaching this limit, financial transactions will be charged Rs 10 plus GST, and non-financial transactions will be charged Rs 5 plus GST. This fee structure for Post Office ATM users will remain unchanged, with no increase in fees.
Impact of fee hike and suggestions
This adjustment will impact customers who regularly withdraw cash from ATMs or engage in non-financial activities like checking their balance. The increase in fees is essential to sustain post office ATM services and enhance security measures. Users are encouraged to minimize their ATM transactions or to adopt digital payment options, such as UPI, to avoid incurring extra charges.
Moreover, the annual maintenance fee for a Post Office ATM card is Rs 125 plus GST. Reasonable fees apply for lost or duplicate PINs. It is crucial for customers to remain aware of their card usage and associated charges to facilitate better financial planning.