ATM Card AMC: What is it and how can you avoid it?

  • Updated on: 22 Jan 2024
  • Published on: 11 Aug 2023
ATM Card AMC: What is it and how can you avoid it?

ATM card AMC (Annual Maintenance Charges) is what the bank charges for offering services and maintaining your debit card. While some of these cards may be free to avail, most of them will carry annual charges, depending on the card type.  

Read on to learn what ATM AMC charges are, how you can avoid them and more.

What is an ATM Card AMC?

As mentioned, ATM card AMC means the annual charges levied by the bank to maintain your debit card and offer banking services. These charges vary across banks and also depend on the type of debit card you have.

For example, one bank may charge ₹100 for a standard debit card but ₹150 for upgraded cards. Generally, these charges are mentioned on the bank’s website and you can also confirm the cost with a representative while choosing your card.

Additionally, there are some banks that waive their ATM card AMC charges for the first year or even for a lifetime. However, this is entirely at their discretion.

ATM AMC Charges for Top Banks

Here’s an overview of debit card annual maintenance charges levied by some of the top banks:

BankATM card AMC
State Bank of Indiaup to ₹350 + taxes, depending on the card type (levied from 2nd year)
Axis Bank₹200 + taxes for Visa Classic/Platinum card
HDFC Bankup to ₹750 + taxes, depending on the card type
Indian Bankup to ₹150 + taxes, applicable from the second year onwards
Union Bank of Indiaup to ₹400 + taxes, depending on the card type
Federal Bankup to ₹500 for other than contactless cards and up to ₹750 for contactless cards

Disclaimer: The above ATM AMC charges are subject to change at the bank’s discretion.

Read more about What is Auto Debit?

How to Avoid AMC Charges on ATM Cards?

The ATM card AMC levied is entirely up to the bank. As such, the easiest way to avoid these charges is to pick an issuer that has their debit card annual maintenance charges set at zero. Generally, the best way to get such cards is to avail them when the bank extends a special offer. 

These are mainly offered during the festive months or as part of the perk package during a special event.  

It is crucial to keep in mind that annual maintenance charges are not the only fees levied by banks. Banks also levy other charges, such as transaction charges levied when you use a non-bank ATM, which generally happens when you need urgent funds.

Your debit card is a financial instrument that you can rely on to access funds, and you should know the charges applicable to it. Similarly, another instrument that offers access to funds is the personal loan. With Fibe, you can get a Cash Loan of up to ₹5 lakhs at competitive rates and flexible repayment plans. 

Moreover, you need to upload only a few basic documents to complete your application. Download our Instant Loan App or visit the website for an entirely digital process and hassle-free and immediate access to funds.

FAQs on ATM Card AMC

What are the charges for AMC?

AMC stands for annual maintenance charges and financial institutions levy this for various purposes. For instance, AMC is applicable on a debit card as well as on a demat account. These charges vary depending on the financial institution and are levied annually.

What is the ATM charge per year?

The debit card maintenance charges for every year depend on your bank as it varies and is at the bank’s sole discretion. Some banks even offer no AMC for the first year, while some offer lifetime free debit cards, i.e., no AMC at all.

How can I avoid AMC on an ATM card?

One way to avoid ATM card AMC is to choose a debit card that has no such fees. There are many banks that offer ATM cards with no yearly maintenance charges. This information is generally available on the bank’s website. 

Are there any ATM charges?

Yes, using the ATMs comes with certain charges, depending on your transactions. Banks generally levy no ATM charge when the transaction is carried out at the bank’s ATM, i.e., the ATM of the bank where you have an account. 

Non-bank-ATM transactions generally have certain charges. However, there are some banks that levy no charges on the first-few non-bank ATM transactions.

Are AMC charges compulsory?

This depends on the bank and the card you have. There are many banks that levy no debit card annual maintenance charges for certain cards. You can check this information on the bank’s official website or talk to a representative when you get/apply for a debit card.

Can ATM fees be refunded?

Yes, there are instances when the banks may refund the ATM charges levied by them. However, this depends on their policies.

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