Often it might happen to you too that if you use the ATM more than the limit i.e. withdraw money, you have to pay extra charges to the bank. Even for activating the SMS facility on the account, the bank levies charges. At the same time, the bank also charges your account in case of a low balance in the account, the issue of a new debit card, or non-completion of transactions. Many times we do not know how much the bank charges for activating such a facility. Let us know how much is charged from SMS to ATM.

How much do banks charge for SMS alerts?

The service charges charged by banks for SMS alerts and ATM transactions vary depending on the bank's rules and packages, but some common examples are:

SMS Alert Charge:

  • Many banks charge fees ranging from Rs 0.25 to Rs 1 for every SMS alert. 20 paise plus GST is charged. This service of the bank is known as Insta Alert Service.
  • Some banks charge a fixed monthly or yearly fee (say Rs 10 to Rs 25), which includes an SMS alert to a limited number of join.
  • Some premium services, such as low balance alerts or credit card transaction alerts, may incur additional charges.

ATM Charge:

  • Many banks charge Rs 10 to Rs 20 for every transaction to withdraw cash from their ATMs.
  • If you withdraw cash from an ATM other than your bank's, an extra fee (eg Rs 20 to Rs 50) may be charged.
  • According to the Reserve Bank of India, banks were ordered to charge the customer Rs 21 per transaction in addition to the monthly ATM card fee. At the same time, the first five transactions from the ATM of your bank are free for the customers.
  • Any bank provides free ATM transaction facility in limited numbers. After this, additional fees may apply.

You can get exact information about the fees charged by your bank for SMS alerts and ATM services from your bank's website, mobile application or customer care.

Fees for new debit card

When your debit card is stolen or lost, you have to pay a fee to the bank to issue a new card. This fee may vary between banks. Some banks issue the new card for free, while others charge a fee ranging from Rs 500 to Rs 1,000.

Fees for SMS alerts

Banks send SMS alerts to their customers to inform them about transactions happening in their accounts. Banks also charge fees for this facility. These fees may vary between banks. Some banks charge 20 paise per SMS, while others charge monthly or annually.

Fees for ATM transactions

There is no fee to be paid for withdrawing cash from your bank's ATM. However, if you withdraw cash from another bank's ATM, you may have to pay fees. This fee varies between banks. Some banks charge Rs 20 per transaction, while others charge monthly or yearly fees.

Image credit: Freepik