As per the instructions of RBI, banks have implemented the revised fees of ATM charges, which will make withdrawing cash after the free limit expensive. The Reserve Bank of India approved this increase on the 28th. Now customers will be able to do only 5 free transactions (financial and non-financial) in a month from their bank's ATM, after which they will have to pay additional charges.
From today, after the free transaction limit is over, you will have to pay an extra charge of Rs 2 on each transaction. With the implementation of the new rules, after the free limit is over, a charge of Rs 23 will now be levied on each transaction.
The Reserve Bank of India had issued a notification on March 28-
After the limit of free transactions, a maximum of ₹ 23 can be charged to the customer per transaction. Applicable taxes will be payable separately. These rules will also apply to transactions made on cash recycler machines, which can be changed as per the need.
You can do free transactions only 3 times in metro cities-
- According to the new rules, if you are using another bank's ATM, then you can do a maximum of 3 free transactions in a month in metro cities and a maximum of 5 free transactions in non-metro cities.
- If you are using your bank's ATM, then you can do 5 free transactions in a month. After crossing the limit of free transactions, you will have to pay a charge of Rs 23 on each transaction.
- Currently, after the free transaction limit is over, the bank can charge its customers a maximum of Rs 21 on each transaction.
- This decision will cost those bank customers who withdraw cash using an ATM several times a month or use any other service.
These banks have implemented new rules from today-
Many banks, including State Bank of India, HDFC Bank, Punjab National Bank, and Indusind Bank have implemented new rules for their customers from today. Banks said that after the free limit, Rs 23 + GST will have to be paid on each transaction. According to PNB, Rs 11 will have to be paid on non-financial transactions.
Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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