Soon, ATM daily draw limit will be Rs 1 lakh

Bank customers can soon withdraw up to Rs 1 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.

Bank customers can soon withdraw up to Rs 1 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.

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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 is Rs 50,000 in a day. While HDFC Bank is allowing these enhanced banking limits with effect from June 1, other banks may soon follow.