RBI hikes ATM withdrawal fee to ₹23 beyond free usage limit, effective May 1
Currently, banks are allowed to charge ₹21 per transaction after a customer has exhausted the free transaction limit.
Currently, banks are allowed to charge ₹21 per transaction after a customer has exhausted the free transaction limit.
Currently, banks are allowed to charge ₹21 per transaction after a customer has exhausted the free transaction limit.
Mumbai: The Reserve Bank of India on Friday said that the ATM withdrawal fee will increase by ₹2 to ₹23 per transaction beyond the free usage limit, effective May 1.
"Beyond the free transactions, a customer may be charged a maximum fee of ₹23 per transaction. This shall be effective from May 1, 2025," the RBI said in a circular.
Customers are eligible for five free transactions each month from their own bank ATMs, including both financial and non-financial transactions. They are also entitled for free transactions from other bank ATMs, three transactions in metro centres and five in non-metro centres.
Currently, banks are allowed to charge ₹21 per transaction after a customer has exhausted the free transaction limit.