ATM Withdrawals Costlier From Today – Here’s What You Should Know
Key Points
As per the updated Reserve Bank of India (RBI) guidelines, ATM withdrawal charges for non-home bank ATMs will increase from Rs 21 to Rs 23 per transaction. Additionally, balance inquiries at these ATMs will now cost Rs 9, up from Rs 7
Bhubaneswar, May 1: Starting today, bank customers in India will face higher ATM transaction charges beyond the free monthly limit.
As per the updated Reserve Bank of India (RBI) guidelines, ATM withdrawal charges for non-home bank ATMs will increase from Rs 21 to Rs 23 per transaction. Additionally, balance inquiries at these ATMs will now cost Rs 9, up from Rs 7.
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✨Customers in metro cities such as Mumbai, Delhi, Bengaluru, and Chennai can avail five free transactions per month, while those in non-metro areas are limited to three free transactions. Once these limits are exceeded, the new charges will apply.
The RBI has justified the hike as a measure to offset rising operational costs and enhance ATM maintenance. However, consumer advocates worry that the change will disproportionately affect those who rely on cash transactions.
To avoid extra fees, banking experts recommend strategic ATM usage. Customers can optimize transactions by withdrawing larger sums, using digital payment methods, and seeking out in-network ATMs where fees are lower.