New Delhi: From Next Month I.E. New Year, Withdrawing Cash From ATM Will Become Expensive. From January 1, 2022, Customers Will Have To Pay More For Crossing The Free ATM Transaction Limit.
Let Us Tell You That In June Itself, The Reserve Bank Of India (RBI) Allowed Banks To Increase The Fee For Cash And Non-Cash ATM Transactions In Excess Of The Free Monthly Limit From January 1, 2022.
From Next Month, Customers Will Have To Pay Rs 21 Per Transaction Instead Of Rs 20 If They Exceed The Monthly Limit For Free Transactions. RBI Had Said That In View Of Compensating Banks For Higher Interchange Charges And General Increase In Cost, They Are Allowed To Increase The Customer Charges To 21 Per Transaction. This Increase Will Be Effective From January 1, 2022.
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 Centers And Five At Non-Metro Centres. In Addition, The Central Bank Had Also Allowed Banks To Increase The Interchange Fee Per Transaction From Rs 15 To Rs 17 For Financial Transactions And From Rs 5 To Rs 6 For Non-Financial Transactions Across All Centres. This Was Effective From 1 August 2021.
