Banks are unlikely to replicate HDFC Bank's move to allow its top-end customers the convenience to withdraw up to Rs 1 lakh a day at ATMs, due to concerns on security and the possibility of ATMs running dry. Most banks have currently capped the per-day debit card limit for cash withdrawal at ATMs at between Rs 25,000 and Rs 50,000.
However, beginning June 1, 2010, HDFC Bank will up the per-day withdrawal limits for its debit card holders.
Though Imperia debit card holders can withdraw Rs 1 lakh at HDFC Bank's ATM, they will not enjoy the same facility at other banks' ATMs due to cap on withdrawal limits. Bankers' say the current cap on debit card withdrawal limit is serving customers well. If the limit is upped, they fear that cash in ATMs could get depleted fast and replenishment could be a problem.
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