Canara Bank has announced a revision in its daily debit card transaction limit for ATM cash withdrawals, Point of Sale (POS) and e-commerce transactions for its customers with immediate effect, according to information on its official website. Canara Bank hikes daily Debit card transaction limit.
The daily ATM cash withdrawal cap for Classic Debit Card has been raised from Rs 40,000 to Rs 75,000. The POS limit for these cards would increase from the present limit of Rs 1,00,000 to Rs. 2,00,000 per day. The daily transaction limit for ATM Cash, POS, and E-Commerce transactions has been increased at one of the top public sector lenders, Canara Bank.
The bank has kept Rs 25,000 daily limit constant for NFC(contactless) transactions made through Canara Bank Classic Debit Card. Canara Bank has mentioned on its website that “As per RBI guidelines for enhanced security on card transactions, by default cards issued are enabled for Domestic usage at ATMs & POS only.
International/online (e-commerce) usage & contactless usage functionality (in contactless cards) are disabled at the time of card issuance. Customers are facilitated with switch on/off and set limits on the card channel-wise (ATM/ POS/ E-Commerce, domestic/international, NFCcontactless), through ATM/Branch/Mobile Banking/Internet Banking/IVRS.”
For Platinum/ Business/Select Debit Cards, the bank has hiked the cash transaction limit from Rs 50,000 to Rs 1 lakh per day and for POS/ E-Commerce transactions the daily transaction limit has been hiked from Rs 2 lakhs to Rs 5 lakhs. Whereas, for NFC(contactless) transactions the daily transaction limit has been kept unchanged at Rs 25,000.
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“Cash withdrawals through Point of Sale Machines: Any number of transactions with a per-day per card limit of Rs.2000 in tier III to VI cities and Rs.1000/- in Tier I & II cities,” Canara Bank has mentioned on its website. For cardholders, Canara Bank has said on its website that “The validity of EMV chip cards shall coincide with the validity of EMV certification (present EMV certification is valid till 31st December 2028).
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