Have You Faced ATM Transaction Failure Due to Insufficient Balance? Here’s What You Need to do

New Delhi: Several banks across the country are charging customers if their ATM transactions fails due to insufficient balance. It means customers have to pay an extra amount as a penalty for every transaction that goes unsuccessful due insufficient balance.

While this is not something new for people, still there are many instances on daily basis where customers fail to withdraw money due to insufficient balance in their account. Hence, it is crucial to check your balance before making an ATM withdrawal to avoid penalty.

Several top banks across the country including SBI, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Yes Bank charge customers for every failed transaction due to insufficient balance. The State Bank of India charges a fee of Rs 20 plus GST for any failed ATM transaction due to insufficient balance.

For instance, for HDFC customers, a failed ATM transaction due to lack of sufficient balance is only chargeable at other banks’ ATMs. The amount charged as penalty is Rs 25 plus taxes. Likewise, the ICICI Bank also follows the same rule as HDFC.

Meanwhile, Kotak Mahindra Bank and Yes Bank charge Rs 25 for failed ATM transactions due to low account balance. On the other hand, Axis Bank charges a flat Rs 25 for ATM transactions failed at other banks’ ATMs due to insufficient funds.