Till Now, Post Office service charges are cheaper than the leading banks. Already Banks are levying heavy service charges on the customers and following the trend, Post Offices recently amended service charges on the cash transactions done through post office branches and preparing to levy burden on Debit/ATM Card transactions from October 1st,2021
As per the circular issued by the department of posts(DOP)there would be annual maintenance charges of 125 Rupees Plus GST. The burden is not limited to the ATM Card annual maintenance, there are several charges levying on the customer which are prescribed below-
|Type of Transaction||Service Charge(in Rupees)|
|ATM Card Annual Fee||125 rupees+GST|
|Cash Withdrawal Charges at Own ATM||5 Free Transactions allowed; Beyond That 10 rupees+GST|
|Cash Withdrawal Charges at Other ATM’s||3 Free Transactions in Metro and 5 Free Transactions in Non-Metro; Beyond That 20 rupees+GST|
|Charges For Doing Non-Financial Transactions at Own ATM’s||10 rupees+GST beyond 5 Free Transactions|
|Charges For Doing Non-Financial Transactions at Other ATM’s||8 rupees+GST Beyond 3 Transactions in Metros and 5 Transactions in Non-Metros|
|SMS Alert Charges||12 rupees+GST Per annum|
|Cash Withdrawals through POS(Point of sale) terminals||1% on the Transacted Value; maximum 5 rupees per transaction|
|Duplicate PIN Generation Through Branch||50 rupees+GST|
|New Debit Card Issuance(in case old debit card was lost)||300 rupees+GST|
These transaction charges are applicable from October 1st,2021. Till Now Bank customers have to bear the expenses on the ATM transactions and it’s now the turn of India Post(Post Office)savings a/c holders to bear the transaction charges.
If you are a India Post debit card holder, aware of these transaction charges well in advance to avoid unnecessary burden on your finances. Plan your financial transactions of India Post by knowing the charges levying from October 1st,2021.