RBI revises ATM withdrawal charges – Check new limits and fees
Withdrawing cash from ATMs will now incur additional charges. Customers will have to pay a fee for exceeding five transactions per day. ATM interchange fees have also increased.
Reserve Bank of India has introduced new rules for customers. New rules by RBI will require extra charges for ATM cash withdrawals.
Withdrawing money will now incur hefty charges imposed by banks. Previously, five free daily withdrawals were allowed. Now, exceeding this limit will incur charges.
Banks will charge fees for withdrawing your own money from your account. Such rules are coming. The maximum cash transaction fee will be increased from Rs 21 to Rs 22.
Five free withdrawals will be allowed. However, exceeding this limit will incur new charges. ATM interchange fees have also increased from Rs 17 to Rs 19.
This interchange fee is levied for withdrawals from other banks' ATMs. If your card is from PNB and you withdraw from another bank's ATM, this fee applies after exceeding the free limit. The cost of operating ATMs is also gradually increasing.
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