Customers, who have a savings account at a post office, will now have to pay new fees for financial or non-financial transactions they make in a month. The new rule will take effect from Oct. 1, the post office said in a circular.
The annual maintenance fee for post office ATM / debit cards from October 1 will be Rs 125 plus GST. The fees will be applicable from October 1, 2021 to September 30, 2022.
Meanwhile, for SMS alerts, India Post will now charge customers Rs 12 plus GST.
According to the new circular, an India Post customer loses his ATM card, he will have to pay Rs 300 plus GST to get a new one, from October 1. If a customer loses their ATM PIN code, forgets another PIN code. , they will have to pay Rs 50 plus GST.
Additionally, if ATM or POS transactions are declined due to insufficient account balance, customer will have to pay Rs 20 plus GST for the same.
The Post Department also said that there will only be five free transactions at India Post’s own ATMs and after that customers will have to pay Rs 10 plus GST per transaction. During this time, customers will have to pay Rs 5 plus GST for non-financial transactions after five free transactions.
For cash withdrawal at the point of service (POS), debit card holders will be required to pay 1% of the transaction which is subject to a maximum of Rs 5 per transaction.