We ignore checking the balance of our bank account most of the time before debiting cash from an ATM.
The account holder will understand the value of checking your account balance once, before debiting cash from an ATM, as withdrawing cash from an insufficient balance account will lead to an additional fee charged by banks for a ‘failed transaction’.
A message informing you of ‘insufficient funds’ will flash on the ATM screen, while you will be charged a nominal fee for a failed ATM transaction.
That’s why it’s always needed when performing an ATM withdrawal to check the balance first. To know the available balance and avoid an unnecessary overhead charge for a failed transaction due to insufficient account balance, you can use options such as SMS and call facilities.
For a failed ATM transaction (due to insufficient balance), we will collect the extra fee imposed by some of the top banks in the country so that you can be well-known in the future.
ATM Transaction Decline Fee Charges (For Insufficient Balance)
SBI (State Bank of India)
SBI will charge a fee of Rs.20+GST for transaction decline due to insufficient balance.
Transactions declined at other bank ATMs anywhere in the world or at a merchant outlet outside India will be charged at Rs. 25 per transaction due to insufficient funds.
The decline of the transaction at other bank ATMs or point of sale (POS) due to insufficient balance leads to a charge of Rs 25 per transaction.
Kotak Mahindra Bank
Declined Domestic ATM Transactions due to insufficient balance, bank charges Rs 25 per transaction.
ATM Declines due to insufficient funds: Rs 25/Instance
Transaction decline fee at POS terminals due to insufficient funds in Savings account Rs 25 per instance.