A cash withdrawal limit refers to the maximum amount of money that an individual can withdraw from their bank account in a single transaction or within a specified period (Day). This limit is typically set by the financial institution that issues the debit or ATM card.
The specific withdrawal limit can vary depending on several factors, including the policies of the bank, account type, and the individual’s relationship with the bank. It is common for banks to set daily cash withdrawal ranges to protect customers from potential fraud or unauthorized access to their accounts.
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Bank Cash Withdrawal Limit
Cash withdrawal limits are usually communicated to the account holder at the time of account opening. There are different types of bank accounts such as savings account, current account etc. Note that different account types may have different withdrawal limits. They are respectively:
- Savings Bank Account: Usually a savings bank account per day cash withdrawal up to 2,00,000 rupees. However, the amount of this money may change slightly from bank to bank.
- Current Bank account: Generally there is no upper limit for par day withdrawal in current bank account. Since current bank account is opened for commercial reasons, no upper limit has been kept keeping this in mind.
ATM Cash Withdrawal Limit
You can withdraw a specified maximum amount in a day from an ATM using your debit or ATM card. It is called daily ATM cash withdrawal limit. The general ATM cash withdrawal limit is Rs.20,000.
The specific limit may vary depending on the type of ATM card you are using. It is important to note that daily cash withdrawal limits may include any fees or charges associated with ATM transactions.
- Savings Account ATM Card: Normally, a savings account ATM card can withdraw cash up to a minimum of 25,000 rupees per day. And locked up to a maximum of 50,000 rupees.
- Current Account ATM Card: Generally there is no upper limit for daily withdrawal on current account ATM cards. However, keeping in mind the limitation of ATM machines, the upper limit of withdrawal has been made To 1,00,000 rupees.
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Question – Answer :
SBI Classic Debit Card: The daily withdrawal ranges for this card is Rs. 20,000.
SBI Global International Debit Card: The daily withdrawal ranges for this card is Rs. 50,000.
SBI Platinum International Debit Card: The daily withdrawal ranges for this card is Rs. 1,00,000.
Daily withdrawal ranges from a bank through check is ₹1 Lakh, which may vary depending on the account you hold.