ATM Rules to Change: Top 5 Key Updates from HDFC, PNB and Jio Payments Bank
From April 1st, several major Indian banks including HDFC Bank and Punjab National Bank have implemented changes related to ATM usage, affecting cash withdrawal limits and methods. Additionally, Jio Payments Bank has introduced a QR code-based cash withdrawal facility.
Highlights
- •HDFC Bank updates UPI-based cash withdrawals to be included in monthly free transaction counts
- •PNB introduces new daily withdrawal limits for some debit cards
- •Jio Payments Bank launches a new QR code-based cash withdrawal facility through their UPI application interface
- •Customers at HDFC will face a ₹23 per transaction charge if they exceed their monthly limit, alongside applicable taxes
New Delhi marks the start of a new financial year on April 1st with significant changes to ATM usage across the country. These changes were announced by major commercial banks and payments banks, affecting cash withdrawal limits, transaction charges, and cash withdrawal methods.
HDFC Bank has updated its UPI-based cash withdrawals, now counting towards monthly free transaction limits while PNB updates daily cash withdrawal limits for some debit cards. Jio Payments Bank has introduced QR code-based cash withdrawal facility through new UPI application interface.
However, account holders exceeding their monthly withdrawal limit at HDFC will incur a maximum charge of ₹23 per transaction in addition to applicable taxes. Meanwhile, RBI’s proposed guidelines on digital currency transactions are also under consideration.
