HDFC Bank has raised withdrawal limit and shopping limit of all debit cards

At present customers are allowed to withdraw up to Rs50,000 per day on their debit cards from ATM. But HDFC Bank has raised the withdrawal limit and shopping limit of all debit cards, effective June 1.

The ATM withdrawal and shopping limits, respectively, for the Imperia Gold card has been increased to Rs1 lakh and Rs1.25 lakh from Rs50,000 per day; Easy Shop Regular International/Maestro/NRO cards has been increased from Rs25,000 and Rs40,000 from Rs15,000 and 25,000 while on Kid’s Advantage card the limit has been increased to Rs2,500 from Rs1,500 and Rs1,000 and on Women’s card it has been increased up to Rs25,000 from Rs20,000.

However ICICI Bank allows withdrawals up to Rs1 lakh and a transaction limit of Rs1.5 lakh on its Titanium, Platinum and Signature debit cards per day.

While on Gold card the withdrawal as well as transaction limit is up to Rs 50,000.

On Axis Bank’s Gold Card withdrawal limit is up to Rs 50,000, but shopping limit is of Rs1.75 lakh per day.

Withdrawal limits for customers set by the banks are according to Reserve Bank of India guidelines.

A banking analyst with a brokerage firm pointed out, “Withdrawal limits set by banks usually depend on their customer bases and the nature and ticket sizes of the transactions.”

“Few transactions or withdrawals by our customers touch the limit. So, as of now, we haven’t thought of raising those limits,” said SS Ranjan, chief financial officer, State Bank of India (SBI).

Meanwhile, SBI, country’s largest public sector lender has a withdrawal limit of Rs Rs40,000 and transaction limit of Rs50,000 per day.

However cash withdrawals from the ATMs of other banks have not been changed it is still Rs 10,000 per transaction, allowing five such transactions a month.