ATM Transaction Fees Increase: Discover the New Rates Now!


Reserve Bank of India atm fees


The Reserve Bank of India has announced changes to the ATM withdrawal fees. They will come into effect from May 1.

What is the change?

Customers can withdraw money five times a month free of charge from ATMs of banks or financial institutions where they have an account.

Customers who do not have a bank account can withdraw money three times a month in cities and five times in rural areas from ATMs of banks or financial institutions.


If it is more than that...

According to the new notification, a fee of up to Rs. 23 will be charged for each transaction above a certain limit.


Why this change?

When we withdraw money from banks, we have to pay a service fee to the banks. Therefore, the Reserve Bank of India has now announced this price hike for that service fee.

When we withdraw money from ATMs of other banks, our banks pay fees to those banks. To compensate for that, a fee is charged when we withdraw money from ATMs of other banks.

Today, according to the new announcement, it has been increased to Rs.23.

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