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The maximum amount that can be withdrawn from an ATM per day varies depending on the type of account. For Kotak Edge, Pro, and Ace accounts, the limit is Rs 1,00,000. However, for Easy Pay accounts, the limit is Rs 25,000.
With Kotak Edge, Pro, and Ace accounts, customers can withdraw up to Rs 1,00,000 per day from an ATM. The daily withdrawal limit for Easy Pay accounts is Rs 25,000.
Yes, you can withdraw Rs. 50,000 from an ATM in a day with certain debit card types, such as Kotak Edge, Kotak Pro, and Kotak Ace. However, this limit applies to transactions within India.
To withdraw a large amount of cash, visit the Kotak Bank branch and request a withdrawal. Alternatively, if you have time, you can withdraw from ATMs over several days, adhering to the daily withdrawal limit set by your account type.
You can check your withdrawal limits by referring to the terms and conditions provided by Kotak Bank or by contacting customer service. Additionally, you can check your account balance and recent transactions through Kotak online banking or mobile banking app.
Usually, banks allow five free transactions every month. You can check this information in your account opening form or by contacting Kotak Bank's customer service.
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
Automated teller machines (ATMs) have become indispensable in our lives, offering unparalleled convenience for accessing funds from our bank accounts anytime, anywhere. However, despite their convenience, they come with limitations, notably ATM withdrawal limits.
Why Do Banks Have ATM Withdrawal Limits?
Banks, including Kotak, set ATM withdrawal limits to safeguard the security and stability of the financial system. These limits serve as protective measures for account holders and the bank, reducing risks associated with fraud, theft, and financial instability. Here's a closer look at why banks have ATM withdrawal limits:
Thus, cash withdrawal limits are a crucial component of the banking system. They protect both banks and customers from various risks and ensure smooth financial transactions. By implementing these limits, banks strike a balance between convenience and security, enhancing overall confidence in the banking system.
How Much Can You Withdraw From an ATM Each Day?
When it comes to accessing your funds conveniently, Kotak Mahindra Bank's Easy Pay Debit Card offers flexibility with a daily ATM cash withdrawal limit:
With these features, managing your business expenses becomes seamless and secure, empowering you to focus on your business growth.
How Much Money Can You Withdraw From an ATM at One Time?
When it comes to ATM withdrawals, the amount you can withdraw at one time varies based on your account type and the card you hold:
Daily ATM withdrawal limit: Rs 25,000 for regular accounts.
For Kotak Edge, Pro, and Ace accounts: Rs 1,00,000.
Easy Pay Debit Card: Not enabled for international transactions.
Kotak Edge, Pro, and Ace Debit Cards: The same limit applies for international withdrawals as domestic, i.e., Rs 1,00,000.
Ensure you know your account's specific limits to plan your withdrawals accordingly, whether for domestic or international use.
The alternatives mentioned below can offer flexibility when faced with ATM withdrawal limits, ensuring you have access to cash when necessary.
How To Increase ATM Withdrawal Limits?
Here's how you can increase your withdrawal limits with your Kotak Debit Card:
Lastly, if you have a higher limit on your Kotak Debit Card, use it wisely to ensure security and prevent unauthorised access to your funds.
Read Also : Cash Deposit Limit in Savings Account
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