ATM Card AMC (Annual Maintenance Charges) is a yearly fee charged by banks on debit cards as an ATM service fee. The fee is fixed by the bank and varies depending on the type of debit card you have. While some debit cards may be free to avail, most of them will carry annual charges, depending on the card type. These charges are levied by the bank to maintain your debit card and offer banking services. The charges vary across banks and are generally mentioned on the banks website. Here are some examples of debit card annual maintenance charges levied by some of the top banks in India:
- State Bank of India: up to ₹350 + taxes, depending on the card type (levied from 2nd year)
- Axis Bank: ₹200 + taxes for Visa Classic/Platinum card
- HDFC Bank: up to ₹750 + taxes, depending on the card type
- Indian Bank: up to ₹150 + taxes, applicable from the second year onwards
- Union Bank of India: up to ₹400 + taxes, depending on the card type
- Federal Bank: up to ₹500 for other than contactless cards and up to ₹750 for contactless cards
Apart from ATM Card AMC charges, there are other charges for using ATM services, such as charges for cash withdrawal transactions, non-financial transactions, and usage of other bank ATMs. These charges also vary across banks and depend on the type of account you hold. For example, Indian Bank charges up to ₹15 for exceeding free transactions per month, including financial and non-financial transactions, at their ATMs.
In summary, ATM Card AMC charges are the annual maintenance charges levied by banks on debit cards as an ATM service fee. These charges vary across banks and depend on the type of debit card you have. It is advisable to check the banks website or confirm the cost with a representative while choosing your card to avoid any surprises.
