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ATM cash withdrawal charges to increase from today: to cost Rs. 21 per transaction

Following an order from the Reserve Bank of India (RBI), Automated Teller Machines (ATMs) across banks are set to increase their service charges per transaction from Saturday, and users will have to pay an additional Rs.1 beyond the permissible free transactions for cash and non-cash purposes.

According to an RBI announcement dated June 10, 2021, banks would be allowed to charge Rs. 21 instead of Rs. 20 with related taxes, if any, to be paid separately. Customers, on the other hand, are entitled to five free transactions per month from their own bank ATMs (including both financial and non-financial transactions, three free transactions from other bank ATMs in metro areas and five free transactions in non-metro centres.

The interchange fee structure for ATM transactions was last modified in August 2012, while customer costs were last revised in August 2014.

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