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June 01, 2010

Milk ATMs for Rs 1.25 lakh now (India)


Bank customers can soon withdraw up to Rs one lakh in a single day from ATM machines, and can shop for even an higher amount of Rs 1.25 lakh with their debit cards.

Also, as much as Rs three lakh can be transferred in a day to another account through ATMs as also over phone.

The enhanced limits for ATM withdrawals, debit card swiping and fund transfers would save the consumers from running to bank branches, that too within banking hours, for such large transactions. Currently, the maximum the customers of most of the banks can withdraw through ATMs is Rs 50,000 in a day.

While HDFC Bank is allowing these enhanced banking limits to its customers with effect from June 1, other banks might soon follow the suit.

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