You did not charge any fee for a limit to withdraw cash from ATM in the country, but after completion of the limit, a certain charge is deducted from your account.
According to media reports, this charge is now going to increase. From May 1, 2025, the cash withdrawal charge will be increased to Rs 2. Which means that withdrawing cash from ATM will be even more expensive. According to the report, this decision to increase the fee has been taken by looking at the ATM operation cost.
How much does it feel right now
According to the information, every person has to pay Rs 21 per transaction charge for withdrawing more cash than the limit. However, from May 1, this charge will be Rs 23 per transaction. According to media reports, these changes have been made by both the central banks of the country, RBI (RBI) and NPCI (NPCI). Under this change, the charge on withdrawing cash from the ATM machine from 1 May 2025 will increase.
What is ATM Interchange Fees?
Every person can withdraw cash free from ATM only for a limit, but after completion of the limit you have to pay the interchange fee. The interchange fee is the same, which one bank gives another bank to use ATMs by its customers.
On completion of the limit, the charge bank charges its customers in the name of fee. Currently, most banks are charging about Rs 21 per transaction from their customers.
Can do free transactions so many times
According to the central bank, RBI of the country, all customers can withdraw money for free till one fixed limit. In Metro City like Mumbai, Kolkata, Chennai, Hyderabad, Bangalore), a person can free three transactions fees every month.