Post Office savings account holders ALERT! ATM card transaction rules will change from October 1 - Check details here

Customers, who have a savings account in a post office, will now have to pay new charges for financial or non-financial ATM transactions they do in a month. The new rule will come into effect from October 1, the department of the post said in a circular. 

The annual maintenance charge for post office ATM/debit cards from October 1 will be Rs 125 plus GST. The charges will be applicable from October 1, 2021, to 30 September 2022. 

Meanwhile, for SMS alerts, India Post will now charge Rs 12 plus GST from customers.

According to the new circular, an India Post customer loses his/her ATM card, they will have to pay Rs 300 plus GST for getting a new one, from October 1. If a customer loses his/her ATM PIN, fo rgetting another PIN, they will have to pay Rs 50 plus GST. 

Additionally, if ATM or POS transactions are refused due to insufficient account balance, the customer will have to pay Rs 20 plus GST for the same.

The department of the post has also said that there will be only five free transactions at India Post's own ATMs and after that, customers will have to pay Rs 10 plus GST per transaction. Meanwhile, customers will have to pay Rs 5 plus GST for non-financial transactions after five free transactions. 

For cash withdrawal at Point of Service (POS), debit cardholders will have to pay 1% of the transaction that is subjected to a maximum of Rs 5 per transaction.