Atm withdrawal charges latest news: The Reserve Bank of India (RBI) has given a big update to those who withdraw money from ATM. RBI has increased the withdrawal fee. To withdraw money from ATMs, customers get 5 free transactions per month from the ATM of the bank, where they have an account, and 3 free transactions from other banks’ ATMs. The fee is levied after crossing this limit. The Reserve Bank of India has said that from 1 May 2025, customers using ATM banking services will have to pay a fee of Rs 23 per transaction, which was earlier Rs 21 per transaction.
RBI said that customers will still be eligible for five free transactions (both financial and non-financial) from their bank’s ATMs. RBI said, “After the limit of free transactions, the customer will be able to charge a maximum of Rs 23 per transaction. It will be applicable from May 1, 2025.” Earlier, RBI amended the interchange fee in June 2021.
What are the rules to withdraw money from ATM?
According to the update guidelines, customers will get 5 free transactions per month at ATM operated by their bank. In addition, they are entitled to three free transactions at ATMs of other banks in metropolitan areas and 5 free transactions in non-Metro areas. Excess transactions than this limit may levy a fee of up to Rs 23 per transaction.
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The post will be expensive to withdraw money from ATM from May 1, RBI has increased fees, know the new rules first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
