Alert! Withdrawing Cash From ATM Will Be Expensive From Jan 1st – Know Here New Rule Charges

Alert! Withdrawing Cash From ATM Will Be Expensive From Jan 1st – Know Here New Rule Charges

 

 

 

 

As you know that year 2021 is about to end now. RBI has allowed to increase the charges for cash and non-cash ATM transactions after the free monthly limit from January 1, 2022. So, Withdrawal of cash from ATM (Cash transaction) is going to be now more expensive from next month onwards. That means if the free ATM transaction limit is exceeded, ATM users will have to pay more charges.

 

RBI has allowed to increase the charges for cash and non-cash ATM transactions after the free monthly limit from January 1, 2022. Axis Bank said that according to the guidelines of the Reserve Bank (RBI), the fee for financial transactions above the free limit at Axis Bank or other banks’ ATMs will be Rs 21 plus GST. These revised rates will be effective from January 1, 2022.

 

How much will the chart increase from next month

 

Till now you have to pay a charge of Rs 20 for crossing the monthly limit of free transactions. At the same time, from next month, Rs 21 per transaction plus GST will have to be paid. RBI has issued a circular stating that to compensate banks for higher interchange fees and have increased the cost by general. Therefore, banks have been allowed to increase the charge to Rs 21 per transaction.

 

5 transactions can be done for free

 

Three free transactions will be allowed to do five free transactions from ATMs of your banks. This will include financial and non-financial transactions. Customers have been allowed to do 3 free transactions from ATMs of other banks in metro cities and 5 transactions at non-metro centers.

 

 

Also Read:From ATM transaction charges, Bank Withdrawal charges: 5 Major rules changing from Ist January 2022

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