ATM cash withdrawal rules- After 5 days i.e. from January 1, withdrawing and depositing cash from ATM is going to be expensive. Bank customers will have to pay more than what they were paying earlier for cash transactions (ATM cash withdrawal limit per transaction) from ATMs.
From January 1, 2022, customers will have to pay more for crossing the free ATM transaction limit. In June itself, the Reserve Bank of India (RBI) allowed banks to increase charges for cash and non-cash ATM transactions in excess of the free monthly limit with effect from January 1, 2022. Axis Bank said, “As per RBI guidelines, the financial transaction charges above the free limit at Axis Bank or other bank ATMs w.e.f. 01-01-22 will be ₹21 + GST.
How much will it charge?
At present, the first 5 financial transactions in a month are free for cash and non-cash transactions from bank ATMs or cash recycler machines. After this, a charge of Rs 20 per financial transaction is levied. But from January 1, 2022, this charge will be Rs 21 per financial transaction. They will continue to get 3 transactions from other bank’s ATMs in metro cities and 5 transactions from other bank’s ATMs in non-metro cities as free as now. Customers will continue to be eligible for five free transactions (including financial and non-financial transactions) every month from their own bank ATMs. They will also be able to do three free transactions from other bank’s ATMs in metro cities and five at non-metro centres.
The new rates will be applicable from January 1,
Let us tell you that the Reserve Bank of India had allowed banks to charge more charges for withdrawing money or doing other transactions more than the fixed free monthly limit through ATMs. Now from January 1, 2022, more charges will be collected after the free limit of withdrawing or depositing money from ATMs.
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