ATM New Rules: The reason for increasing ATM charges is the demand for increasing the interchange fee by ATM network operators and white label ATM companies. Their maintenance and operation costs had increased compared to earlier.
ATM New Rules: Nowadays everyone definitely uses ATM to withdraw money. In such a situation, this is important news for those people. From May 1, 2025, the rules of ATM are going to change. That is, the charge of ATM is now changing. After the approval of the proposal of National Payments Corporation of India (NPCI) by the RBI, withdrawing money from the ATM of another bank will now become expensive.
From May 1, 2025, if money is withdrawn from the ATM of another bank after a fixed limit, then earlier it used to cost Rs 17, whereas now it will cost Rs 19. Also, the charge for checking the balance has also been increased from Rs 7 to Rs 9. The bank gives its customers a limit of 5 free transactions in metro cities and 3 free transactions in non-metro cities in a month at other ATMs. Above this, this increased charge will be levied on the transaction.
ATM charge will increase
The reason for increasing ATM charge is the demand for increasing interchange fees by ATM network operators and white label ATM companies. Their maintenance and operation expenses had increased compared to earlier. In such a situation, the National Payments Corporation of India had placed this demand in front of the Reserve Bank of India, which has been given a green signal by the RBI.
The increase in ATM charge will now have a greater impact on those banks which are more dependent on others for ATM network. Customers will now have to pay more charge for withdrawing money or checking balance from non-home bank MTA. In such a situation, after this increased charge, people who use ATM more should either use the ATM of their home bank to avoid additional charge or else use the digital payment option.
SBI has already made changes in ATM transactions and charges for its customers and it is also applicable from 1 February 2025. But as per the instructions of RBI, from May 1, 2025, more charge will have to be paid for withdrawing cash than before.
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