New Delhi: Transactions, including cash withdrawals, on ATMs beyond the free monthly permissible limit will cost you more as banks will levy Rs 21 per transaction from January 1, 2022.
The Reserve Bank of India (RBI) had issued the directive for the increased charge on ATM transactions through an order issued on June 10.
The RBI has allowed banks to increase the fee for ATM transactions beyond the free monthly permissible limit in order to offset higher interchange fee.
Customers will be now allowed to do three free transactions — financial and/or non-financial — from other bank ATMs in metros and five in non-metros. Customers will be allowed five free transactions — financial and/or non-financial — every month from their own bank ATMs.
