Check new charges here: ATM withdrawals to become costlier from May 1; minimum balance, credit card rules to be affected

RBI approves hike in ATM interchange fees, effective May 1: Will it impact customers?

The Reserve Bank of India (RBI) has approved an increase in ATM interchange fees, media reports said. According to reports, the Central Bank has agreed on raising the fee by Rs 2 for financial transactions and Re 1 for non-financial transactions. The new charges will take effect from May 1. What is an ATM interchange fee? There is nothing free in the financial services industry. Every time a customer of a particular bank uses an ATM of another b…

Check new charges here: ATM withdrawals to become costlier from May 1; minimum balance, credit card rules to be affected

The Reserve Bank of India has increased ATM withdrawal fees to ₹19 and modified non-transaction charges. Banks are updating credit card perks and minimum balance rules, with penalties for non-compliance, especially affecting customers of smaller banks reliant on larger institutions.

ATM Withdrawals To Get Costlier From May 1: Check New Charges

If you often withdraw cash from an ATM, be prepared to pay a bit extra starting May 1. This comes after the Reserve Bank of India (RBI) approved a hike in ATM interchange fees, the amount a bank pays to another for using its services, including the expense of owning an ATM. Apart from that, it also includes charges for offering exclusive services to a cardholder of another bank. Cash withdrawal fee: Rs 17 to Rs 19 per transaction Balance inquiry…

Banking Update: ATM Interchange Fees to Rise from May 1, 2025

Banking Update: ATM Interchange Fees to Rise from May 1, 2025 From May 1, 2025, withdrawing cash from ATMs will become a bit more expensive. The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have approved a Rs.2 increase in the interchange fee for ATM withdrawals. This change may slightly […]

ATM Withdrawals to Get Costlier from May 1: Here’s What You’ll Pay Under New RBI Rules

March 25, 2025 | Finance News | India: Starting May 1, 2025, withdrawing cash from ATMs in India will cost more, as the Reserve Bank of India (RBI) has approved an increase in ATM interchange and usage fees. If you frequently use ATMs beyond the free monthly limit, get ready to pay more per transaction. Here’s a detailed look at the new charges and how they’ll affect your wallet. New ATM Charges Effective from May 1 Cash Withdrawal Fee (after f…

In recent months, Argentines have noticed a significant increase in bank charges, especially by withdrawing cash from ATMs. This trend has generated concern among users, who seek to understand the reasons behind these increases and how they affect their daily finances. Increases in cash extraction fees Several banks have adjusted upwards rates for ATM operations, particularly when using devices from other institutions or networks. For example, B…