ATM transaction charges will become more expensive

ATM transaction charges will become more expensive from the 1st January, next year. The customer has to pay Rs.21 for each transaction beyond the prescribed free transactions. The Reserve Bank of India (RBI) on Thursday issued orders allowing banks to do so.

 At present, bank customers can avail 5 free financial and non-financial transactions per month at the bank ATM where the account is held. In metro cities, three free transactions can be made from other banks’ ATMs and five in non-metro cities. Beyond that, they are currently charging Rs.20/- per transaction. The RBI allowed it to increase by one rupee.

The RBI has also increased interchange fees from other bank customers from August. It has allowed to increase the fee for each financial transaction interchange from the current Rs.15/- to Rs.17/- and the charge for non-financial transactions from Rs.5/- to Rs.6/-. The RBI said the decision was taken in view of rising operating costs.

Related Articles

- Advertisement -

Latest Articles