Indian Postal Service: Major changes in ATM card and transactions from October 1

The Indian Postal Service has announced that the new rules will come into effect from October 1.

Accordingly, from October 1, the maintenance fee for a postal ATM card or debit card will be Rs. 125 + GST ​​per annum. It has been announced that this fee will be in effect till September 30, 2022.

SMS charge

Also, SMS alerts sent to customers from October 1 will be charged at Rs 12 + GST. Also, if the customer loses his ATM card, he will be charged Rs 300 and GST to get a new card.

To do this, if the ATM card PIN is lost, you have to go to the post office branch to get a new PIN and pay 50 rupees.

ATM transaction fees

Customers can withdraw money five times a month at postal ATMs for free. For more than five withdrawals each time, Rs 10 + GST ​​will be charged.

Go for it, you can make non-financial transactions five times a month. On top of that you have to pay 5 rupees + GST ​​every time.

Postal ATM – Transaction at a bank ATM

When withdrawing money at other banks’ ATMs, you can withdraw money three times a month in metro cities and five times a day in non-metro cities. On top of that you have to pay 8 rupees each time.

How much does it cost to withdraw money at POS?

There is a 1% charge for cash transactions if the transaction is done in the POS of the post office. It will charge a maximum of Rs 5 per transaction. As a result, postal customers will no longer have to pay extra for postal transactions.