ATM rule change 1st May 2025: From May 1, ATM users are going to get a big shock. The country’s central bank i.e. Reserve Bank of India had increased the limit of ATM withdrawal charge. This announcement was made on 28 March 2025. Which is now going to be implemented from 1 May 2025. It is worth noting that up to three transactions are free in metro cities right now.
Withdrawing cash from ATM will become expensive from next week. Reserve Bank of India had announced this on 28 March 2025. Till now the limit for withdrawing cash from ATM machine has been kept at Rs 21 per transaction. But very soon the charge or fee levied on the transaction will increase.
How much will have to be charged now?
According to the announcement made by RBI, now customers will have to pay a charge of Rs 23 instead of Rs 21 for withdrawing cash from ATM. Which means that RBI has increased the withdrawal charge by Rs 2.
However, three transactions are free in metro cities like Mumbai, Kolkata, New Delhi etc. However, for more transactions than this, a charge of Rs 21 has to be paid. In simple words, free cash can be withdrawn from ATM up to three times. For withdrawing more than this, the charge levied is higher.
Why is withdrawal charge levied?
If a customer is a customer of Bank X. But uses another bank to withdraw cash. Then such another bank charges interchange fees from Bank X. Bank X will charge this fee from its customer in the name of withdrawal charge.
How to avoid charge or fee?
This charge or fee can be easily avoided. At present, withdrawing cash from ATM up to three times is free. Or there is no zero or no charge on it. You should decide in advance how much cash you may need this month. According to that, withdraw cash from ATM once or twice.
Along with this, you can use UPI app or ATM card for many types of expenses or to buy goods. Nowadays UPI payment is accepted at every small and big shop.
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