New Delhi: Canara Bank, one of the largest public sector lender, has increased the daily transaction limit for ATM cash, POS and e-commerce transactions. The enhanced limits are officially stated on the bank’s website with immediate effect. The daily ATM cash withdrawal limit for Classic Debit Card has been increased from Rs. 40,000 to Rs. 75,000 per day. The daily POS cap for these cards has been increased from Rs 1 lakh to Rs 2 lakh. For contactless NFC (Near Field Communication) transactions done with Canara Bank Classic Debit Card, the bank has maintained a daily limit of ₹25,000.
The bank increased the daily cash transaction limit for Platinum/Business/select debit cards from Rs 50,000 to Rs 1 lakh and for POS/e-commerce transactions from Rs 2 lakh to Rs 5 lakh. While the daily transaction limit for NFC (contactless) transactions remains at Rs 25,000. ,Also read: Want To Go On A Vacation But Short Of Money? Finance your trip in minutes,
On its website, Canara Bank states that “by default, the cards issued are enabled for domestic use only at ATMs and POS. This is as per RBI recommendations for enhanced security on card transactions. When a contact If a cardless card is issued, the functionality to use it internationally, online, or contactless is disabled. (Also read: With this 1 rupee coin you can get 10 crore rupees; Do you have it?,
Through ATM/Branch/Mobile Banking/Internet Banking/IVRS, customers can activate/deactivate their card through various channels (POS/ATM/e-commerce, domestic/international, NFC contactless) and set limits Can