Currently Punjab national bank which is the country’s second largest public sector bank is allowing its account holders to make unlimited transactions both financial and non-financial from its ATMs for free. But however this is going to change from 1st of October where in customers will have to pay money if they carry out more than five transactions in a month through its ATM. Punjab national bank has issued a notice to its customers which states “The number of free transactions and the charges beyond these free transactions for PNB customers on PNB ATMs have been revised. The revised charges will be applicable form 1st of October 2017.
Once the customer crosses limit of five transactions in a month, PNB’s savings fund/current/overdraft account holders will have to pay a charge of Rs.10 per transaction. This charges will be levied even if the PNB cardholder makes the transaction at a PNB ATM. The charge will be applicable for the cash withdrawal as well for the issuance of mini statements.
There will be no charges for balance enquiry, fund transfer, green pin request and other non-financial transactions for Punjab National Bank account holders. In August 2014 the Reserve bank of India advised banks to give at least five transaction free (Financial and Non-financial) in a month for savings account holders at all locations for there own bank ATM transactions. Where as for the other bank ATM transactions were allowed to cut the number of free transactions from five to three in a month in six metros Delhi, Mumbai, Chennai, Kolkatta, Banglore and Hyderabad. But for other locations number of free transactions were unchanged which is five transactions a month for ATM withdrawals.