Bank / Credit Union

India charges for checking balance at ATM

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December 30, 2020

Customers of the State Bank of India will be required to pay Rs 20 (US $0.27) plus a goods and service tax for every failed ATM transaction due to insufficient funds. The charge is still low compared to the Rs 25 (US $0.34) charge of other banks such HDFC Bank, Axis, Kotak Mahindra Bank, Yes Bank and ICICI according to a report in the Economic Times.

Most banks in India offer SMS and call facilities for customers to check their bank account balance before making a transaction, and most banks allow approximately 5-8 transactions at an ATM before tacking on a penalty charge. Non-financial transactions however, such as checking balance, pin change, mini statement etc. count toward total transactions. If a customer has exhausted their limit of non-financial transactions during the month, they could face additional financial fees.