21st November 2011
Srinagar
J&K Bank doubles debit card transaction limit.   <i>JK Bank ATM/Debit cardholders can withdraw up to Rs.1.50 lakh from ATMs per day</i>
With a view to relieve its customers further of limitations on cash withdrawal through ATMs and purchase of goods through Point of Sale (PoS) machines, J&K Bank has enhanced maximum daily limits on its Debit Cards and PoS machines. The limit of cash withdrawal has been doubled in almost all the variants of debit cards issued to the Bank's Savings and Current account holders.
Commenting upon the enhancement in limits Chairman and CEO Mushtaq Ahmad said, "We have been pioneers in introducing IT driven services like ATMs in the state. It has always been our endeavor to introduce new products/services and to upgrade the existing ones to offer products/services bouquet at par with the best in the Industry at global level. As part of this process we have decided to bring in sweeping changes in the matter of daily limits on Bank's Debit Cards for Cash withdrawals at ATMs and purchases on Point of Sale Machines (PoS)."
The chairman further added that the enhanced limits for ATM withdrawals through debit card swiping would save the customers from running to bank branches, that too within banking hours, for such large transactions.
The daily cash withdrawal limits on debit cards in general and deluxe variants of Savings as well as Salary accounts has been enhanced from Rs 20,000 to Rs 40,000 and Rs 50,000 to Rs. 100,000 respectively. In case of purchases through PoS machines, the limit has been increased from Rs 75,000 to Rs 100,000 and Rs 100,000 to Rs 150,000 in general and deluxe variants respectively.
The withdrawal limit on ATMs for the three variants of Current accounts i.e. Platinum, Gold and Premium Plus has also been enhanced from Rs 50,000 to Rs 100,000 while as for PoS machines it has been increased from Rs 100,000 to Rs 150,000.
Besides, the other 3 variants of Current i.e. Premium, Basic and Grameen have also seen limits doubled for ATM withdrawals and stand enhanced from Rs 20,000 to Rs 40,000 and for PoS machines from Rs 75,000 to Rs 100,000. However, per transaction limit in case of both types of debit cards shall continue to be Rs 20,000. This means, a cardholder, with a withdrawal limit of 40000, will have to conduct at least two transactions for withdrawing Rs.40000 from ATMs in a single day.
Commenting upon the enhancement in limits Chairman and CEO Mushtaq Ahmad said, "We have been pioneers in introducing IT driven services like ATMs in the state. It has always been our endeavor to introduce new products/services and to upgrade the existing ones to offer products/services bouquet at par with the best in the Industry at global level. As part of this process we have decided to bring in sweeping changes in the matter of daily limits on Bank's Debit Cards for Cash withdrawals at ATMs and purchases on Point of Sale Machines (PoS)."
The chairman further added that the enhanced limits for ATM withdrawals through debit card swiping would save the customers from running to bank branches, that too within banking hours, for such large transactions.
The daily cash withdrawal limits on debit cards in general and deluxe variants of Savings as well as Salary accounts has been enhanced from Rs 20,000 to Rs 40,000 and Rs 50,000 to Rs. 100,000 respectively. In case of purchases through PoS machines, the limit has been increased from Rs 75,000 to Rs 100,000 and Rs 100,000 to Rs 150,000 in general and deluxe variants respectively.
The withdrawal limit on ATMs for the three variants of Current accounts i.e. Platinum, Gold and Premium Plus has also been enhanced from Rs 50,000 to Rs 100,000 while as for PoS machines it has been increased from Rs 100,000 to Rs 150,000.
Besides, the other 3 variants of Current i.e. Premium, Basic and Grameen have also seen limits doubled for ATM withdrawals and stand enhanced from Rs 20,000 to Rs 40,000 and for PoS machines from Rs 75,000 to Rs 100,000. However, per transaction limit in case of both types of debit cards shall continue to be Rs 20,000. This means, a cardholder, with a withdrawal limit of 40000, will have to conduct at least two transactions for withdrawing Rs.40000 from ATMs in a single day.