ATM Withdrawal To Get Costlier From May 1: Here Are The New Charges
The Reserve Bank of India has increased ATM withdrawal fees to Rs 19 and modified transaction charges.
ATM Withdrawal To Get Costlier From May 1
If you’re the type of person who prefers to carry cash with you, you might notice your wallet feeling a bit lighter in the near future. Yes, it is true!
The Reserve Bank of India has recently approved an increase in ATM interchange fees, which will directly raise the costs for customers withdrawing cash and checking balances at ATMs outside their home bank's network.
Starting May 1, 2025, customers across India will see a rise in ATM transaction fees, specifically:
Cash Withdrawal Fees: Rs 17-19 per transaction
Balance Enquiry Fees: Rs 6-7 per transaction
These charges will kick in only after users have exhausted their free limit—five transactions in metro cities and three in non-metro areas at ATMs not belonging to their own bank.
This hike stems from a revision approved by the RBI, based on a proposal from the National Payments Corporation of India (NPCI). White-label ATM operators have been advocating for this change, citing that the old fees were no longer sustainable due to rising operational costs.
With these new charges coming into play, those who frequently use ATMs might want to stick to their home bank’s machines or consider switching to digital payment methods to avoid incurring extra fees.
