In a communication to account holders, the non-public sector lender acknowledged that UPI money withdrawals will not be handled individually and can now be included inside the variety of free ATM transactions allowed every month.
Customers surpassing the free transaction threshold might be charged ₹23 plus relevant taxes per withdrawal.
Currently, HDFC Bank financial savings and wage accounts provide 5 free withdrawals monthly at HDFC Bank ATMs. For non-HDFC Bank ATMs, the free withdrawal restrict is three transactions monthly in top-six cities and 5 transactions in different areas.
The financial institution described the change as an effort to standardise price buildings throughout channels and keep clear transaction expenses.
UPI-enabled ATM withdrawals enable prospects to withdraw money with out a debit card by scanning a QR code at appropriate ATMs and authorising the transaction by means of a UPI app. This cardless money facility has been regularly launched throughout banks to develop digital entry to money.
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