India Post - which has a network of over 1.5 lakh post offices across the country - provides a range of financial and retail services, other than its mailing operations. It offers a regular savings account, as part of its small savings schemes portfolio, along with an ATM-cum-debit
card facility. India Post under the Department of Post offers a certain number of transactions free of cost at ATMs with a specific transaction limit. Customers are charged for transactions at ATMs over and above these permitted number of free transactions. The ATM card charges apply depending on the type - whether it belongs to the post office where the customer's account is located or some other bank ATMs - and nature of ATM - whether the ATM is located in a metropolitan or any other city in the country.
card facility. India Post under the Department of Post offers a certain number of transactions free of cost at ATMs with a specific transaction limit. Customers are charged for transactions at ATMs over and above these permitted number of free transactions. The ATM card charges apply depending on the type - whether it belongs to the post office where the customer's account is located or some other bank ATMs - and nature of ATM - whether the ATM is located in a metropolitan or any other city in the country.
Here are 5 things to know about post office ATM facility:
1. Currently, post office permits cash withdrawals up to Rs. 25,000 per day through its ATM card, according to India Post's official website - indiapost.gov.in. A cash withdrawal limit of Rs. 10,000 per transaction is applicable. That means the maximum cash that one can withdraw in a transaction carried out at a post office ATM is Rs. 10,000.
2. India Post offers five transactions per day free of cost at its ATMs. This includes financial and non-financial transactions carried out at post office ATMs,
3. The Department of Posts allows three free transactions in a month from its debit card when used at ATMs of other banks in metro cities, according to the India Post's website.
4. Post office ATM card holders are allowed five transactions free of cost in other banks' ATMs located in cities other than metros.
5. ATM card holders exhausting the permissible number of transactions at ATMs of other banks have to pay a fee of Rs. 20 (plus GST) for every additional transaction, according to the post office website.
| India Post (post office) ATM transaction limits/charges | |
|---|---|
| Daily ATM cash withdrawal limit | Rs. 25,000 |
| Cash withdrawal limit per transaction | Rs. 10,000 |
| Charges for transactions done at DOP ATMs | Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day |
| Permissible free transactions at other Bank ATMs (per month) |
Metro Cities - 3 free transactions (Both Financial & Non Financial)
Non Metro Cities - 5 free transactions (Both Financial & Non Financial)
|
| Charges after exceeding permissible free transaction limit at other Bank ATMs | Financial & Non Financial Transactions - Rs. 20 + Applicable GST |
(As mentioned on India Post's official website)
Among other services, post office savings accounts can be held with or without a cheque book facility. India Post also offers the facility to transfer savings accounts from one post office branch to another, according to its website.
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