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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. A Debit or ATM Card AMC refers to the annual maintenance charges imposed by banks for maintaining your debit card and providing related banking services. The AMC amount varies depending on your bank and the type of debit card you use. AMC stands for Annual Maintenance Charge. It is a fee charged by banks every year for maintaining your debit card account. This charge covers the cost of offering debit card-related services, including issuing of card, enabling ATM usage, allowing online and offline transactions, and more.
