ATM Service Charges Increase, To Cost Rs 21 Per Transaction From Today

ATM Service Charges Increase, To Cost Rs 21 Per Transaction From Today

 

 

 

New Delhi, Jan 01: Automated Teller Machines across banks are all set to increase service charges per transaction from Today, following an order from the Reserve Bank of India and customers will have to Rs 1 more beyond the permissible free transactions for cash as well as non-cash purposes.

 

As per the RBI notification, banks have been permitted to charge Rs 21, instead of Rs 20 with applicable taxes, if any, shall be additionally payable.

 

However, the customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs.

 

They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centers and five transactions in non-metro centers.

 

The RBI has notified the changes from January 1, 2022, citing the increasing cost of ATM deployment and expenses towards ATM maintenance incurred by banks or white-label ATM operators.

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