ATM Withdrawal Charges Latest news: Reserve Bank of India (RBI) has given important information for those who withdraw cash from ATM. RBI has increased the withdrawal fee.
ATM Withdrawal Charges: The Reserve Bank of India (RBI) has given a big update for those who withdraw cash from ATM. RBI has increased the withdrawal fee. Customers get 5 free transactions every month from the ATM of the bank with which they have an account and 3 free transactions from the ATM of other banks to withdraw money from ATM. Charges are levied after exceeding this limit. The Reserve Bank of India has said that from May 1, 2025, customers using ATM banking services will have to pay a fee of Rs 23 per transaction, which is more than the earlier Rs 21 per transaction.
RBI said that customers will still be eligible for five complimentary transactions (both financial and non-financial) per month at their bank’s ATMs. RBI said, “After the limit of free transactions, a maximum fee of Rs 23 per transaction can be charged from the customer. This will be effective from May 1, 2025.” Earlier, RBI had revised the interchange fee in June 2021.
What are the rules for withdrawing money from ATM
Based on the updated guidelines, customers have the privilege of 5 free transactions per month at ATMs operated by their own bank. Apart from this, they are entitled to three complimentary transactions at ATMs of other banks in metropolitan areas and 5 in non-metro areas. Any transaction beyond these limits may attract a fee of up to Rs 23 per transaction.
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