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PNB Charges on ATM Transactions After 5 Free Transactions form 1st October

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PNB Charges on ATM Transactions

PNB Charges on ATM Transactions

Shocking news for PNB customers as Punjab National Bank, PNB will make Charges on ATM Transactions after 5 Free Transactions form 1st October. Country’s second largest public sector bank will apply this rule in the month of October after Gandhi Jayanti. At present, customers of PNB do not have to pay any charges for PNB ATMs on any financial and non-financial transactions in a month. However, this facility will be discontinued since the new rule is implemented.  

In the notice, the fee has been revised from the number of free transactions and the charges beyond these free transactions for PNB customers on PNB ATMs. Modified charges on PNB ATM Transactions after 5 Free Transactions will apply from 1 October 2017. The bank said that on savings, overdraft account holders, transactions exceeding 5 times in a month will be charged at the rate of 10 rupees per transaction even if the PNB card holder does the transaction only from PNB ATMs. For detailed information about PNB Charges on ATM Transactions go through below tuned page that is prepared by the team members of www.privatejobshub.in.

PNB Charges on ATM Transactions

Some Highlights of PNB Customers
  • Customers will have to pay more for free financial transactions (withdraw money from ATMs) and non-financial transactions (removing Mini Statement).
  • However, the bank said that there will be no charge for non-financial transaction such as remaining amount inquiry, fund transfer or green pin application.
  • Reserve Bank of India RBI had modernized the number of free ATM transactions that customers could do at own and other bank ATMs in August 2014.
  • RBI had advised banks to give at least five free transactions (financial and non- financial) a month on savings accounts at all locations.
  • Banks have devised their own mechanisms to charge for ATM transactions beyond free within RBI limits.
Check This Also: RBI Cut Down Repo Rate

In addition to performing the function of withdrawing cash from the ATMs, PNB customers to pay extra charges after 5 free ATM transactions from October 2017. Hope the latest update by country’s second largest public sector bank Punjab National Bank is beneficial for you. We have provided all highlights related to PNB Charges on ATM Transactions after 5 Free Transactions.

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Individuals can go through it and can minimize the use of ATMs to avoid extra charges. For more updates you can bookmark our web page that is www.privatejobshub.in to get instant access or join us on Facebook or Google + for updates. If you have any query or any suggestion related to this comment us on below mentioned comment box our team will soon reply towards it. 

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