Amc debit card: AMC for debit cards (Annual

AMC for debit cards (Annual Maintenance Charges) are the charges levied by banks to debit card users. In this blog, we will be covering what AMC for debit cards are, and explore how the AMC is calculated. Furthermore, we will also be looking at how you can avoid paying excessive AMC on debit cards. What is AMC for a Debit Card? The AMC stands for Annual Maintenance Charges and it is levied as a service fee for the usage of the ATM card. You have to pay this amount to keep your card functional. The AMC of a card depends on the type of card you use and the issuer bank. Often the charges for special cards may be different. Annual Maintenance Charge (AMC) is a yearly fee charged by banks on debit cards as an ATM service fee. The fee is fixed by the bank, and the cardholder must pay it every year. The AMC applicable on a debit card may differ from one card issuer to another and is determined by the type of ATM card used. Annual Maintenance Charges (AMCs) on debit cards fund ATM services and vary by bank and card type. Often waived in the first year, fees apply from the second year, with charges differing notably among banks. The blog outlines strategies to avoid AMC charges by using bank ATMs, planning withdrawals, and staying informed to prevent service disruptions.