US EditionRBI Allows Banks To Hike ATM Withdrawal Charges From Rs 21 To Rs 23 Starting May 1; Check Free Limit
- The Reserve Bank of India allows banks to increase ATM withdrawal charges from Rs 21 to Rs 23 starting May 1, 2025, applicable beyond five free monthly transactions.
- Shikhar Aggarwal stated that the increased charges may burden frequent ATM users but could boost MicroATMs and Business Correspondents.
- Vishal Maru described the new charges as an opportunity for banks to generate revenue, helping manage rising costs of ATM networks.
- As of January 2025, there were 1,30,902 on-site ATMs and cash recycler machines in India.
35 Articles
35 Articles
RBI Permits Banks to Hike ATM Transaction Fees, Only Beyond Current Free Limits
Shortly after the Reserve Bank of India issued a circular permitting banks to hike ATM transaction fees, social media users shared posts voicing their disagreement with the move.What do the posts say?: Some posts (links here, here, and here) are being shared which claim that the RBI has permitted banks to charge people ₹19 for every cash withdrawal they make from ATMs. The posts share a misleading claim about ALL ATMs transactions being charged …
RBI Allows Banks To Hike ATM Cash Withdrawal Charges By Rs 2 To Rs 23
The Reserve Bank on Friday permitted banks to increase charges on ATM cash withdrawals beyond the free monthly usage by Rs 2 to Rs 23 per transaction from May 1. Customers are eligible for five free transactions (inclusive of financial and non- financial transactions) every month from their own bank Automated Teller Machines (ATMs). They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other ba…
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