Introduction:

Banks apply an Annual Maintenance Charge (AMC) to debit cards for ATM services, requiring a yearly fee from cardholders. This charge is predetermined by the bank.

The AMC fluctuates based on the card issuer and ATM card type. The bank deducts this fee automatically from the cardholder's account annually. Notably, most banks do not charge an AMC for the first year post card issuance; charges begin in the subsequent year.

Debit Card AMC

The AMC for a debit card varies with the ATM card type. HDFC Bank, Axis Bank, SBI, and Punjab National Bank impose an AMC ranging from Rs.100 to Rs.150 for classic cards. Indian Bank sets an AMC of Rs.60 in rural and suburban areas, increasing to Rs.120 in metropolitan and urban zones. Conversely, ICICI Bank imposes no AMC except for coral debit cards, which have a Rs.499 initial fee.

Maintaining a Good Credit Score: Tips to Avoid AMC for a Debit Card

To bypass the annual maintenance cost for your debit card, follow these recommendations:

1. Select a debit card without AMC. For instance, ICICI Bank offers debit cards sans AMC.
2. Opt for ATMs of your bank. If unavailable, use any nearby ATM; several banks provide apps to locate nearby ATMs.
3. Keep enough cash for unforeseen expenses.
4. Plan ahead to avoid depleting cash reserves before using the ATM. Withdraw larger amounts at once to reduce ATM visits to multiple banks.

Checking AMC for Different Bank ATM Cards

To verify the specific AMC for an ATM card, visit the associated bank's official website or consult a bank representative for detailed charges. Below are AMC particulars for prominent banks in India:

• ICICI Bank: All debit cards except for coral ones are AMC-free, with a Rs.499 AMC for coral cards. Additionally, there's a Rs.25 cost for ICICI debit card PIN regeneration.
• HDFC Bank: Offers free ATM cards, but an AMC of Rs.200 to Rs.750 applies based on card type upon redemption or reissue.
• State Bank of India: Allows free cash deposits via SBI debit cards with an added Rs.125 AMC plus GST for classic cards.

ATM AMC Charges for Top Banks

Here is a breakdown of ATM AMC fees from leading Indian banks:

Annual Fees for ICICI Bank Debit Cards Increased

From 21 August 2023, ICICI Bank raised annual fees for several debit card variants:

• ICICI Bank Expressions/Business Expressions Debit Card: Increased by Rs.100 to Rs.599.
• ICICI Bank Coral/Business Coral Debit Card: New fee of Rs.699, up from Rs.599.
• ICICI Bank Expressions Coral/Business Expressions Coral Debit Card: New fee set at Rs.899.
• ICICI Bank Rubyx Debit Card: Increased by Rs.350 to Rs.1,099.
• ICICI Bank Sapphiro/Business Sapphiro Debit Card: Rose from Rs.1,499 to Rs.1,999; however, the Expressions Sapphiro Debit Card fee remains Rs.4,999 with unchanged monthly charges of Rs.249.