ATM Charges: All the banks providing banking services in the country also provide ATM facility to their customers. If you want, you can also refuse your bank for an ATM card. But many of your online tasks cannot be done without an ATM.
Banks also charge you several types of charges on ATM cards and the government also charges you GST on the use of ATMs. You have to pay a hefty fee along with GST on cash withdrawal after a certain limit from the ATM. For this, all banks also charge you an annual fee on the ATM card, which is called Annual Maintenance Charge i.e. AMC.
AMC of ATM card can be up to Rs 2000
Different banks in the country charge different fees on different categories of ATM cards or debit cards. This charge can range from 0 to 2000 rupees, keep in mind that along with AMC, you also have to pay GST. Actually, customers get many facilities with ATM cards, according to which AMC is charged from you. Apart from this, many private banks also make customized cards for their customers, which has a separate charge. This charge is automatically deducted from the customer’s bank account once a year for availing ATM service.
How to avoid ATM card AMC
Banks inform their customers about this fee by sending them text messages and emails for every card transaction. Apart from this, in return for this fee, your card is kept active and functional. However, banks also have many such options for which you do not have to pay any kind of AMC for ATM services.
Actually, these are basic debit cards, which are used only for cash withdrawal. But, usually banks do not give information about these cards to their customers. For this, customers have to ask the bank themselves whether they want a basic ATM card without AMC.
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