Public sector lender Punjab National Bank (PNB) will soon be revising ATM cash withdrawal and Point of Sale (POS) transaction limits for its customers. The bank has uploaded a notice on its website where it informed that the transaction limits will be revised soon but did not specify a date. However, consumers need not worry as the bank is not reducing the daily limit but increasing it for the ease of the customers. According to the notice, the bank will revise the Debit Card transaction limit of high-end variant cards.
The PNB said that the ATM cash withdrawal limit of all platinum variants of MasterCard and Rupay and VISA Gold Debit Card will be revised to Rs 1,00,000 per day from Rs 50,000 at present while the POS limit will be increased to Rs 3,00,000 per day from Rs 1,25,000 at present.
The bank also said that the ATM cash withdrawal limit for Rupay select and visa signature debit cards will be revised to Rs 1,50,000 from the current Rs 50,000. The POS transaction limit for these cards will be revised from Rs 1,25,000 to Rs 5,00,000 per day.
“The above will be maximum per day transaction limit permitted for the particular variant of Debit Card. Customers are advised to set their customized limit through Internet Banking, Mobile Banking App, PNB ATM, IVR or by visiting the base branch,” said the Bank.
While this is a good move, the same can be detrimental in the case of cyber fraud. So, customers can reduce the daily transaction limit as per their requirement by logging into net banking or the mobile banking app of the Punjab National Bank.
For PNB customers who have a classic debit card issued by the bank, the daily cash withdrawal is Rs 25,000 while the maximum amount that can be withdrawn from ATM in one transaction is Rs 20,000. The POS transaction limit for these consumers is Rs 60,000 per day.