I have been using ATM for many years and never relied on going to bank to withdraw cash on the bank counter.
Usually most bank ATMs in india allow maximum Rs.10,000 per swipe using your atm card and this is restricted to Rs 25’000 per day, depending on the debit/credit card limits. So to withdraw Rs 20,000 – you have to do Rs 10,000 twice on the same ATM. If you have a atm card with higher limits (ex. gold card), you may have Rs 50,000 per day restriction.
I have been using some of best private banks in India like HDFC, ICICI and really like their services, especially i am a kind of person who doesnt go to bank often.
Recently, i was in a situation where i needed Rs.1 lakh and it seems impossible to withdraw this much money in ATMs. So, i was thinking that i could visit the bank, fillup a withdrawal form and do a cash withdrawal. This way, i am sure most nationalized banks do, but not the case with private banks in India.
I went to the bank and being this a first time, I was infact surprised to find out that, there was were no such cash withdrawal forms used by banks nowdays – thanks to growth of ATM transactions and i was told that i should bring a SELF adressed check, with both sides signed. This is the only way i could do a large cash withdrawal at banks.
So, next time when you go to withdraw money, make sure you take the SELF addressed check with you, mention the amount and dont forget to sign both front and back of the cheque. The bank may ask you to show a ID proof , if you withdraw 1lac or more. Your driving license or PAN will do the job.
And very importantly,
Be safe with the cash you carry. Avoid doing cash withdrawals most times and its better to use a check or your debit/credit card for shopping or purchases.
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