Limit for Debit Card CASH WITHDRAWALS at POS Terminals.

The use of debit cards at Point-of-Sale (POS) terminals at different merchant establishments has been steadily increasing. As a further step towards enhancing the customer convenience in using the plastic money, it has been decided to permit cash withdrawals at POS terminals. To start with, this facility will be available for all debit cards issued in India, upto Rs.1000/- per day.

Now it has been decided to permit cash withdrawals at POS terminals falling under Tier 3 to Tier 6 centres (with population upto 49,999 as per Census 2001) upto Rs 2000/-  per day. 

Conditions for 'cash withdrawal at Point of Sale (POS)

1. This facility is available only against debit cards issued in India.

2. The maximum amount that can be withdrawn at POS terminals is fixed at Rs.1000/- per day.

3. This facility may be made available at any merchant establishment designated by the bank after a process of due diligence.

4. The facility is available irrespective of whether the card holder makes a purchase or not.

5. In case the facility is being availed along with the purchase of merchandise, the receipt generated shall separately indicatethe amount of cash withdrawn.

6. Banks offering this facility shall put in place a proper customer redressal mechanism. Complaints in this regard will fall within the ambit of the Banking Ombudsman Scheme.

7. Banks offering this facility shall on approval by their respective Boards obtain one time permission of Reserve Bank of India, Department of Banking Operations and Development under Section 23 of the Banking Regulation Act, 1949.